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diff --git a/78741-0.txt b/78741-0.txt new file mode 100644 index 0000000..776fac6 --- /dev/null +++ b/78741-0.txt @@ -0,0 +1,13227 @@ +*** START OF THE PROJECT GUTENBERG EBOOK 78741 *** + + + + +Transcriber’s Notes: + + Underscores “_” before and after a word or phrase indicate _italics_ + in the original text. + Equal signs “=” before and after a word or phrase indicate =bold= + in the original text. + Small capitals have been converted to SOLID capitals. + Footnotes and illustrations have been moved so they do not break up + paragraphs. + Deprecated spellings have been preserved. + Typographical and punctuation errors have been silently corrected. + + + + + THE ROYAL MINT: + + _=Its Working, Conduct, and Operations, + Fully and Practically Explained;=_ + + WITH + SUGGESTIONS FOR ITS BETTER SCIENTIFIC AND OFFICIAL MANAGEMENT. + RE-WRITTEN, ENLARGED, AND REVISED TO THE PRESENT TIME. + TO WHICH IS ADDED, AS AN APPENDIX, + + A LETTER ADDRESSED TO THE RIGHT HON. LORD KINNAIRD, K.T. + + BY GEORGE FREDERICK ANSELL, + ANALYTICAL CHEMIST. + LATE OF THE ROYAL MINT, + FORMERLY OF THE ROYAL COLLEGE OF CHEMISTRY. + + _ILLUSTRATED WITH ENGRAVINGS._ + + “To have a thing is little if you’re not allowed to show it; + And to know a thing is nothing unless others know you know it.” + + LORD NEAVES. + + THIRD EDITION. + + [Illustration] + + LONDON: + EFFINGHAM WILSON, ROYAL EXCHANGE. + 1871. + + _Entered at Stationers’ Hall._] [_All rights reserved._ + + + Ipswich, _March 1st, 1871_. + DEAR MR. ANSELL, + +I have no objection to your appending to the third edition of your book +your letter to me in regard to your case, and my correspondence with +Mr. Gladstone and the Chancellor of the Exchequer, but if you add in +addition to this correspondence the report of the debate on my motion +for a committee to inquire into the management of the Mint, I should +wish to make some few remarks on the subject in question; but before +doing so I must take the opportunity of thanking you for letting me see +Mr. Fremantle’s letter in answer to your offer, made at my suggestion, +to meet Mr. Fremantle with a view to rendering him some assistance +(which from your great experience you are well able to do) in the +management of the Mint, which I have reason to know both he and Mr. +Lowe find _somewhat difficult_. + +The answer is evidently dictated by Mr. Lowe. After his letter[1] to +me of the 29th April, 1869, I might have known that he was not likely +to do anything which might appear as if he owned himself in the wrong. +This letter, indeed, showed how annoyed Mr. Lowe was at my having seen +that most malicious report to the Treasury by Dr. Graham, which has +been the cause of your having been so unjustly dealt with, to the ruin, +in a great measure, of your prospects in life. Dr. Lyon Playfair at the +time threatened that if I moved to inquire into the management of the +Mint, he would move that that report be laid on the table of the House. +This would not have deterred me, as the report _itself_ would have been +the best refutation of the _insinuation_ it contained that you were +dismissed because you were guilty of the Mint practice of purloining +gold (whereas the note[2] relieving you from further attendance stated +that the short work at the Mint was the cause). Dr. Graham did not, +he said, believe the insinuation, and to show that he did not believe +it, although he had sent in the report to the Treasury, he authorised +me to offer you the situation (at an increased salary) filled by Mr. +Goodwin, who was to be retired, which of course you refused as being +far inferior to the one you held; and in further proof he wrote you +that handsome testimonial[3] which I read to the House of Lords. + +[Footnote 1: See page 196.] + +[Footnote 2: See page 186.] + +[Footnote 3: See page 198.] + +The report, however, _had served its purpose_ in preventing you from +being appointed to an office in the Mint. + +I am sure Dr. Graham regretted that he had been induced by his brother, +whose animus against you was known throughout the Mint, to send in such +a report to the Treasury. Dr. Lyon Playfair’s threat, as I have said, +would not have deterred me from moving for a committee to inquire into +the malpractices of the Mint, but I confess that I had great scruples +in regard to Dr. Graham himself. I shall never forget the expression of +his face, and the fearful agitation the mention of my intention always +caused. + +I confess I did hesitate to place a man of Dr. Graham’s great +scientific attainments in such a position as an inquiry would have +done, seeing also that his brother was just dead, and that I knew +individually Dr. Graham was in no way implicated in the malpractices +which formerly prevailed in the Mint; for, as you know, Dr. Graham +had soon after his appointment set to work to clear out that “Augean +stable,” which, with your assistance, he had almost accomplished till +in an evil moment he appointed his brother, to whose intemperate habits +I referred in the House of Lords,[4] to a responsible office in the +Mint. + +Dr. Graham’s death following so soon after that of his brother, I was +greatly rejoiced at having delayed bringing the subject of the Mint +before Parliament, because I should have felt that I had been to some +extent instrumental in hastening that event by drawing attention to the +state of that Department. + +On the occasion of the reading to me, by Dr. Lyon Playfair, of that +wicked report to the Treasury (to which I have previously alluded), +in the presence of Dr. Graham and of Mr. C. W. Fremantle, I urged, as +Dr. Graham exculpated you from all blame _insinuated_ by the report, +that in common justice you should be reinstated in some office in the +Mint, you having, with my advice, refused the position offered by Dr. +Graham through me, when Mr. Fremantle remarked as a reason against +your being appointed that “you were so unpopular with the officials;” +such unpopularity being in my opinion the natural result of the work +you had done at the request of Dr. Graham, and in the service of the +Mint. I say the work you had done, and use the expression on the +authority of Dr. Graham, copies of whose letters to the Treasury are +now in my possession, and in which he distinctly states that to you +mostly were due the reforms. There is no doubt, therefore, but that +you were exceedingly unpopular just in the sense that a detective +would be amongst the “light-fingered gentry,” and had I obtained the +committee for which I moved I could have shown the true grounds of +your unpopularity. I have collected some further valuable information +showing the necessity for a rigid and full inquiry into the affairs of +the Mint, which will show that the officials of a public department +are not justified in putting into the hands of a young and rising +member of the House of Lords statements which are not only erroneous, +but absolutely false, so that Lord Lansdowne was obliged to declare +that “he had on a previous occasion overstated the amount in regard to +the profit on silver;”[5] but again was he grossly misled by the Mint +officials when he stated “that there was a gain of £5,000 per annum +on the silver coinage”[6] (a considerable reduction on the former +statement) while the _return_ showed a positive and very great loss. It +would appear that the Mint officials mystify him, and that _he_, not +_I_, confuse two things. + +[Footnote 4: See page 197.] + +[Footnote 5: See page 146-148.] + +[Footnote 6: See page 148-149.] + +I alluded in the House to a job by Mr. Lowe in appointing Mr. Roberts, +and Lord Lansdowne in reply stated that Mr. Roberts was a _very eminent +chemist_ who had proved his capability by “_devising_ a system for +depriving brittle gold of the obnoxious properties on which I recently +commented.” Have you heard that the plan has been tried and found to +be a complete failure!!! I am also informed that Mr. Roberts _did +not devise_ the process in question, but that it was invented by a +really eminent chemist, who did not make the inquiry with a view to +its application under the circumstances which arise in the Mint, where +operations are conducted on so large a scale. The process is described +in the British Association Reports for 1848, and more fully in the +_Philosophical Magazine_ for 1850. + +I have just received the Report of the Deputy-Master of the Mint, on +European Mints, which I have only had time to glance over. The report +is evidently framed with a view of meeting the allegations I made on +the appointment of the commission. It would appear, moreover, that Mr. +Fremantle and his colleagues have made a _very careful study of your +book_!!! which might have been done without the pleasant trip. For +the general public the reports are interesting as showing how foreign +mints are worked, but as far as the management of the English Mint +is concerned, and how a department which is a serious expense to the +country, and from which no one but the Bank of England and the employés +derive any profit, can be made, as it ought to be, a source of revenue, +the report does not show. I see it is proposed to build new offices, +“so constructed as to diminish facilities for peculation!!” I think +the real question is, would it not be better TO COIN BY CONTRACT—this +might be tried, at all events for a time, before the new offices are +commenced. + +I almost fear this Mint question will not be taken up in the House +of Commons, as members are afraid to “tackle” Mr. Lowe, and in these +fearfully excited times the subject is _too dry_ for members to +interest themselves in; but I cannot understand how a Government bent +on economy and reforming abuses in the several Departments can allow +such wasteful extravagance and useless losses to go on, unless indeed +Mr. Lowe is dreaded as much at the Council Board as in the House of +Commons. + + Believe me, + Dear Mr. Ansell, + Yours faithfully, + (Signed) KINNAIRD. + + To G. F. Ansell, Esq., + 27, Bernard Street, Russell Square, London, W.C. + + + + +PREFACE TO THIRD EDITION. + + +Influential friends have advised me to issue the present as the +_third_ edition of “The Royal Mint” on the ground that a Treatise on +Coining which I wrote, at the request of Mr. Graham, for “Tomlinson’s +Cyclopædia,” of which Mr. Tomlinson allowed me to have a hundred copies +printed and bound separately for private circulation, was really the +first edition of the more extended work I have recently published. The +copies of that first edition were soon absorbed: indeed, owing to the +fact that there is little literature in relation to the Royal Mint, I +was flattered by foreign governments and foreign mints seeking from me +copies of that book. Such applications gave me pleasure, and as far as +I was able I complied with the requests preferred, except in the case +of the Spanish mint, for which institution Mr. Graham asked of me a +copy when, unfortunately, I had parted with the last at my disposal. +I was further gratified by the fact that the Imperial Government of +France sought permission to translate this book into French, with a +view to give a copy to each workman in the mints of that nation. + +Under considerable pressure I re-wrote the book above spoken of for +public use, but omitted to style it, as I should have done, the +_second_ edition. This, in its turn, was most kindly received by those +whose opinions I value in both Houses of Parliament, as well as by +those who understand in an especial degree the subject of which I +treated; and I have reason to know that it has found its way to all, +even the most distant, parts of the world. It was produced, but not +replied to, by Ministers in both Houses of Parliament, and remains +yet uncontradicted (see page 198); indeed, I may assume that it has +been officially confirmed; for on the motion of the Right Honourable +Lord Kinnaird, returns were made to the House of Lords, which are +verbatim copies of some of the most damaging pages in my book up to and +inclusive of the dates then reached (see pages 91, 97, 102, 133, 135, +197-8). I say thus much in gratitude, for the subject I have chosen is +one which could hardly have induced me to expect for it so generous +a reception. I wrote it hoping only that the public would acquaint +themselves with the manner in which one of the principal Departments +of the Government was and is conducted. Lord Kinnaird, in the letter +which he has done me the honour to write, and permits me to print in +these pages, expresses an opinion—one that is largely entertained—that +Mr. Fremantle and his fellow-travellers to European mints are greatly +indebted to my books for the information on which they found their +opinions, as expressed in the reports on foreign mints. For their own +sakes as well as for the benefit of the nation, I would that those +gentlemen had followed in their entirety my suggestions, because such +a course would have enabled them to avoid those difficulties which +beset them, and pitfalls into which they will stumble in the carrying +out the designs expressed in these reports on European mints; these I +will discuss in the fitting place, but here I desire to thank those +gentlemen for such attention as they have given to my opinions. + +The leading newspapers and periodicals have reviewed or noticed the +books in a kindly spirit, with but one exception, in which the writer +without refuting one statement indulged in personalities. To those +gentlemen of the Press who have spoken candidly and generously, I offer +my best thanks. I have endeavoured to correct the faults they pointed +out—unless, indeed, where principle was concerned; and, in deference +to the expressed opinions of some of my reviewers, I, now that a new +edition is called for, publish, by his Lordship’s authority, a letter +which I wrote to Lord Kinnaird at his Lordship’s request, giving a +history of my dissociation from the Mint, in which, I hope, will be +found evidence confirming the statements I make throughout the book. + +I do not attempt to disguise the fact that I consider myself to have +been seriously wronged both by Mr. Thomas Graham and by the Treasury, +still I consider, wisely or unwisely, that my personal grievances are +of less interest to the public than is the principle involved. I, +however, deem it right to invite attention now to the subject of my +complaint,—fully set forth in the Appendix,—because it is illustrative +of the treatment a public servant will surely receive if he should +follow the intimation conveyed by the present Government, and, +neglecting the fact of his own relative position, fulfil the duties of +his office as he would do if the matter in hand were one of personal +concern. The Government of the Right Honourable W. E. Gladstone, from +their bench in the House of Commons, promised that “if each in his +especial sphere would faithfully fulfil the duties required in his +department irrespective of his nominal position,” “such public servant +should be duly rewarded:”—the Ministers might have added, and would +have so added had they been candid, “with immediate discomfort and by +ultimate dismissal, and that justice would be sought at _their_ hands +by such public servant in vain!” + +The effect of a rule which obliges Ministers to support the “head of +a Department” “_under any and all circumstances_,” will be apparent +to all evenly balanced minds; and I from my own knowledge, without +fear of contradiction—except, indeed, official denial, which is now +so perfectly understood—state that the man who best succeeds in a +Government office is he who does unreasoningly and undoubtingly just +what he is told to do, and avoids giving offence to his superior +officers by pointing out any irregularity or improvement. + +Upon the publication by Mr. Thomas Graham of the malevolent report he +had written to the Treasury, I, when that fact was made known to me, +obtained a high opinion, and in pursuance of advice then given, it was +my intention to proceed by action at law against Mr. Graham for libel, +but his early death made that step impossible. + +With regard to the publication of the correspondence, it is right that +I should say that Lord Kinnaird had not intended to draw attention to +my case; but, when his Lordship found that the Marquess of Lansdowne +and His Grace the Duke of Argyll led off against me in the House of +Lords, as the Right Honourable Robert Lowe had done most bitterly in +the House of Commons on the previous Friday, he with great generosity +threw off the natural reluctance he had entertained to hurting the +feelings of Mr. Graham’s friends, and defended me with words and +documents so nobly that I can never sufficiently thank his Lordship, or +fittingly acknowledge the indebtedness I thereby incurred. + +To Mr. Lowe, Lord Lansdowne, and the Duke of Argyll must be attributed +any pain which may arise to the friends of Mr. Graham, for Lord +Kinnaird desired to spare them; for myself, however, I would say +that if either of the Ministers named had obligingly pointed out any +presumedly false statement contained in the book which has so far +excited their anger, and proved its untruthfulness, instead of saying +hard words of the Author, I should have been less mindful of the sage +instructions given on a celebrated occasion to an eminent Advocate, “It +is a weak case, bully the counsel.” + +Some of my readers will perhaps consider that the following pages +are overlaid with a strong personal feeling, and may therefore feel +disposed to lay the book aside. To such I would remark that it is +impossible to follow a pursuit of any kind earnestly, unless it be +made a matter of undivided interest. Besides, it must not be forgotten +that I was invited to go to the Mint solely on the ground of my known +determination to resist abuses. Having devoted fifteen years to the +subject of the Mint, it is not to be supposed that I can view its +mismanagement with less concern now than I did when selected for +appointment to that Department, that I might repress irregularities +which were then known to exist, and which appear to have been as yet +uneradicated. + +With such remarks, I invite a perusal of my new edition by such members +of the legislature as are really desirous of reforming the abuses which +exist in the Royal Mint. + + + PREFATORY LETTER TO THE FIRST EDITION. + + TO + THOMAS GRAHAM, ESQ., F.R.S., + MASTER OF THE MINT, ETC. ETC. + + SIR, + +I have written a short article for “Tomlinson’s Cyclopædia,” for the +purpose of explaining (as far as the limited space at my disposal would +allow) some of the details of the process of Coining, and by permission +of Mr. Tomlinson I am allowed to have a few copies of that article +printed separately for private circulation. + +I take advantage of this opportunity to acknowledge most gratefully +that the information I have been so fortunate as to obtain on the +subject of Coining has been gained in consequence of the opportunities +you have afforded me in my position in the Royal Mint. With heart-felt +thanks for the privileges you have accorded me, and for the support you +have given me, + + I beg to remain, Sir, + Your most faithful servant, + GEO. F. ANSELL. + + ROYAL MINT, _August, 1862_. + + + + + PREFATORY LETTER TO THE SECOND EDITION. + + 27, Bernard Street, Russell Square, London, W.C., + _November 8th, 1869_. + + MY LORD, + +I have ventured to ask permission to dedicate this book to your +Lordship, as a mark of my sense of the great kindnesses you have been +pleased to show to me through a series of years. As you, my Lord, will +perhaps permit me to remind you, generous efforts have been made by +many with a view to reinstate me in a position of which they and you +consider me to have been unjustly deprived—an opinion, I believe, your +Lordship has formed from a knowledge of all the facts. + +The recent death of Mr. Thomas Graham puts an end to any personal +feeling between him and myself, whoever was right or whoever was wrong, +or even if there were faults on both sides, the matters which caused +a severance are better forgotten—our differences are beyond human +adjustment. + +The information I have attempted to give in the following pages is +given solely with a view to throw as much light as is possible upon a +subject which is now attracting very considerable attention, and which +has become of national importance. + +It will be to me a great pleasure if I may thus express the gratitude +I feel for the valuable assistance I have received from your Lordship +during a time of great trial and anxiety. + + I have the honour to be, + My Lord, + Your Lordship’s most faithfully obliged and humble servant, + GEORGE F. ANSELL. + + To the Right Hon. Lord Kinnaird, K.T., F.R.G.S., + Lord-Lieutenant of Perthshire, &c. &c. &c. + + + + +PREFACE TO SECOND EDITION. + + +Perhaps it will be well that I should give a brief outline of the +circumstances antecedent to and attending my association with the +Royal Mint, because the facts and opinions which will be given in the +following pages appear to require such a notice, that their worth or +worthlessness may be estimated at its true value, as well as that the +sources of my information, and the modes of obtaining it, may be in the +hands of my readers. + +In the early part of the year 1856 the Master of the Mint found himself +so beset with difficulties arising from irregularities committed by +those who should have supported him, that he formed a determination to +engage a person who should be indisputably a faithful and intelligent +officer in the Coining Department, and who at the same time had +sufficient personal influence to check those irregularities which he +knew were taking place, but which were beyond his personal supervision. +These irregularities were known to the Government of that period, and +had caused so vast an expense that that Government, which was presided +over by Lord Palmerston, had intimated to the Master, that unless +the Mint could be conducted more satisfactorily and economically, it +would be broken up as an Imperial establishment, and thus necessitate +the placing of the coinage in the hands of contractors. With this +view papers were printed and issued to various firms; but Mr. Graham, +being very sincere and energetic in his desire to so conduct the +Mint as that this necessity should not arise, sought the advice of +engineers and others, with a view to finding such a man as combined +within himself the qualities which he saw to be necessary. Finally, +by the advice of Dr. A. W. Hofmann, he called upon me at my residence +in October, 1856, and related to me in detail the facts above alluded +to, and explained precisely the position of affairs at the Mint, +giving me the names of the troublesome persons, and showing his own +position to be so intolerable, that without some one on whom he could +rely, it would be impossible for him to continue his Mastership. Mr. +Graham then proceeded to tell me what had passed between Dr. Hofmann +and himself as to my fitness for the work required, and explained +clearly the impossibility of placing me in a secure position or in high +office at first, but that if I would accept a supernumerary clerkship +temporarily, he would, when I had effected the object of his desires, +advise my promotion to the office then held by Mr. W. T. Brande, when +that office should become vacant. With this understanding I agreed +to accept the position proposed if duly appointed; but that I might +be able to carry out such reforms as were necessary, I insisted on +sufficient power being given to me by himself or by the Government. In +pursuance of this agreement, Mr. Graham recommended my appointment in +a letter to the Treasury, dated 29th October, 1856, in the following +terms:— + +“I desired to introduce a young man, recommended by scientific and +technical information available in coining, by energy of character, +and by tried ability in the supervision of workmen—a faculty by no +means common. After applying to Mr. William Fairbairn and to Mr. George +Rennie, who both recommended candidates, and making inquiry in various +other quarters, I have been led to propose the name of Mr. George +Frederick Ansell as temporary clerk. Mr. Ansell was educated under Dr. +Hofmann, and acted for some years as his laboratory assistant. He has +since been Scientific Director in the Panopticon, Leicester Square, +which was lately broken up. He appears to be a person of superior +education and ability, and great activity and vigour of character, and, +as I have been assured, has shown much discretion in the management of +both pupils and workmen.” + +In accordance with this recommendation I was appointed to a +supernumerary clerkship, and took office in the Rolling Room of +the Royal Mint; but before doing so I particularly inquired of Mr. +Graham, in the presence of Mr. W. H. Barton, the then Deputy-Master, +what authority I should have, and how far I should be supported if I +attempted to enforce obedience, and whether I was at liberty to call +for statements and examine original documents and books. He verbally +authorised me to examine such books as I wished to examine, and desired +Mr. Barton to give me such statements or information as I might ask +for; and as to my authority, he said, “If you order the men to dance +a hornpipe on the table, they shall do it, and all orders shall pass +through your hands.” With such power, and a salary of £120 a year, or +rather £10 a month, I took office on the 12th November, 1856. + +My personal experience of men and manners in the Mint is recorded +in another book, but in this I feel it right to adhere rigidly to +explanations of the processes of coining, and to treat of the expense +and loss attending the manipulation of the precious metals; and in the +latter pages I will demonstrate what formerly was, and what should be, +the cost of producing a coined sovereign, each statement being the +result of actual experience, and capable of proof. + + + + +THE ROYAL MINT. + + +Coining is the term applied to the processes employed in the +manufacture of money. It is proposed to describe the present mode of +manufacture; but it may be as well to state, that in remote periods +money was made by cutting out a piece of metal somewhat of the form +of the intended coin, and imparting the device to it by the blow of a +sledge-hammer. For this purpose the blank piece of metal was laid upon +a die, say the obverse, fixed into a block of wood or stone, supposed +to have been so large as to absorb the vibration caused by the blow, +and to a great extent prevent the quivering which would naturally +arise, and cause unsteadiness. The workman then took the other die, say +the reverse, and passing it through a folded sheet of lead, in order to +avoid the shock to the hand, he placed the engraved part on the blank, +which was resting on the lower die, and held it firmly while another +workman struck it with a sledge-hammer. It is worthy of remark that a +piece of lead such as that described is in the Museum of Dies at the +Royal Mint; and although its surface, by the action of the atmosphere +and other causes, is now converted into carbonate of lead, indentations +caused by the tips of the workman’s fingers are evident. This piece is +believed to have been used with a die of Edward IV. At a later period +the upper die was held in a twisted hazel stick. After each blow the +dies were what is technically termed locked together; that is, the +lower and upper dies were made to fit into the partly-formed coin, so +that neither die could turn without turning the whole mass, and then +a second or third blow was given, till the coin was completed. An +improvement on this method was effected by fitting the two dies into +rods of iron, which may be represented as a pair of tongs; the flat +parts which are used to take a coal would then be the position occupied +by the dies. This plan saved the operator some risk of bruised fingers, +but the process was essentially the same as the original one; and to +money produced by either means was applied the term _hammered_ money, +in contradistinction to _milled_ money; that is, money which was made +from blanks obtained from fillets which had been rolled in a very rough +kind of rolling mill, driven by horse power—the germ from which sprang +the present machinery. On this point it is perhaps of interest to quote +a passage from the Report made to the Lords of the Treasury in 1695 by +Mr. William Lowndes, who says:—“All the moneys we have now in England, +both gold and silver, are reducible to two sorts, one stamped with the +hammer, and the other pressed with an engine called the mill. The gold +or silver of the hammered money is first cast from the melting-pot into +long bars, those bars are cut with shears into several square pieces of +exact weight for sovereigns, angels, crowns, half-crowns, shillings, +&c. Then with tongs and hammer they are forged into a round shape, +after which they are blanched (that is, made white or refulgent by +nealing or boiling), and afterwards stampt or impressed with an hammer +to make them perfect money. This method of making money with the hammer +(as appears in the said red book) was practised in the reign of King +Edward the first” [the book referred to is in the Exchequer] “and this +kind of hammered money continued through all the reigns of succeeding +Kings and Queens till about the year of our Lord 1663, when by several +warrants and command of the King, Charles the Second: to wit, by one +warrant, dated the fifth of November, 1662; one warrant, dated the +eighth of April, 1663; and a third warrant, dated the twenty-fourth +of December, 1663; the other sort, called _milled money_, was first +fabricated to be current in England in this manner: first, the gold or +silver is cast out of the melting-pot into long flat bars, which bars +are drawn through a mill (wrought by a horse), to produce the just +thickness of guineas, half-guineas, crowns, half-crowns, shillings, +&c. Then with forcible engines called _cutters_, which answer exactly +to the respective sizes or dimensions of the money to be made, the +round pieces are cut out from the flat bar, shaped as aforesaid (the +residue whereof, called sizel, is melted again), and then every piece +is weighed and made to agree exactly with the intended weight, and +afterwards carried to other engines (wrought secretly), which put the +letters upon the edges of the larger silver pieces, and mark the edges +of the rest with a graining. The next thing is the blanching, performed +as above; and at last every piece is brought to the press, which is +called the _mill_ (wrought of the strength of men), and there receives +the impression, which makes it perfect _milled_ money.” + +The processes now used are as elaborate as the old methods were simple; +but considering the requirements of the present day, and the enormous +quantity of money produced, it must not be expected that our coins +will, for depth of engraving, bear comparison with those of the Romans, +who, though succeeding in producing finished works of art, seem to have +forgotten the wear and tear to which they would be subjected, and so +left them, as a rule, free from a protecting edge; hence they would +lose their image and superscription at a far earlier date from their +birth or manufacture than would well-made coins of the present period. + +It was formerly believed that gold could be sent to the Mint to be +coined free of charge to the importer; such, however, was not the case. +By the Act 33 Victoria, cap. 10, several Acts relating to the coinage +are repealed, and all persons[7] obtain the right to send gold to the +Mint to be coined on the following terms:— + + “8. Where any person brings to the Mint any gold bullion, + such bullion shall be assayed and coined, and delivered + out to such person, without any charges for such assay or + coining, or for waste in coinage. Provided that (1)—If + the fineness of the whole of the bullion so brought to the + Mint is such that it cannot be brought to the standard + fineness under this Act of the coin to be coined thereout + without refining some portion of it, the Master of the Mint + may refuse to receive, assay, or coin such bullion. (2) + Where the bullion so brought to the Mint is finer than the + standard fineness under this Act of the coin to be coined + thereout, there shall be delivered to the person bringing + the same such additional amount of coin as is proportionate + to such superior fineness. No undue preference shall be + shown to any person under this section, and every person + shall have priority according to the time at which he + brought such bullion to the Mint.” + +The standard for gold is fixed by the new Act at “Twenty-two carats +fine and two carats of alloy in the pound weight troy”—the same that +was specified in the 3rd Edward VI., 35th Elizabeth, 2nd Charles I., +and 18th Charles II. Silver is maintained at the former standard of +“Eleven ounces two pennyweights fine silver and eighteen pennyweights +of alloy in every pound weight troy.” Until the passing of this Act +silver was coined under that of George III., which repealed the Act 18 +Charles II., as regards the coining of silver free of charge. The Act +33 Victoria, cap. 10, repeals that of George III., but fails to make +provision for the coining of silver, which is therefore now coined +under the Common Law; yet the new Act specifies the weight and fineness +of the silver coinage. The omission was made because the Chancellor +of the Exchequer thought it “unfair to introduce silver to this Act +as it is a source of revenue;” a little later I will examine this +statement.[8] + +The Bank of England is practically the only “importer” of bullion to +the Mint, and by coinage makes a considerable profit merely from its +exceptional circumstances. By its charter and by Act of Parliament +it is compelled to keep a stock of bullion equivalent to the excess +of its authorised issue of notes—such authorised issue being secured +by “Government debt” and “other securities”—which at the present +time is fifteen millions; and gold, when at the Mint for coining, is +esteemed as being still at the Bank. By the Act 7 and 8 Victoria, cap. +32, section 4, the Bank of England is compelled to purchase bullion, +previously melted and assayed at the cost of the seller, at the rate +of £3 17_s._ 9_d._ per ounce of standard gold, paying for it in Bank +of England notes. Assuming that all the gold thus purchased is coined, +the Bank makes a profit[9] of about £2,000 on each million. When its +authorities desire to coin gold they give notice at the Mint, and +subsequently send at stated intervals “importations” of say 200 ingots +of gold, each weighing about 180 ounces, and previously assayed. Upon +the arrival of these ingots at the Mint, they are taken to an office, +where, in the presence of an officer from the Bank of England, a +small piece is cut from each ingot, and hammered out into a kind of +strip. This piece is then put into a paper marked with a letter which +corresponds with the mark or letter on the individual ingot from which +it was taken. This having been effected for each ingot, the pieces are +forwarded with their respective ingots to the Mint Office, where their +weight is determined and compared with that charged by the Bank of +England. The pieces which have been hammered out and placed in a marked +packet are called the “assay pieces.” The assay pieces are sent to the +resident assayer in the Mint, who estimates and reports to the Master +the amount of pure gold in each ingot. The report of the resident +assayer is then submitted to the Bank authorities, and if they find it +to agree with their own assayer’s report, the ingots are retained for +operations in the Mint. When it is desired to get the ingots of gold +into a form fit for coining, they have to be alloyed with copper, or +fine gold must be added, so as to bring them to standard or crown gold, +which consists of 22 parts of pure gold and 2 parts of alloy, or 91·66 +per cent. of gold and 8·33 per cent. of copper in 100 parts. Copper is +usually employed because it is cheaper, and forms a harder alloy than +silver. + +[Footnote 7: See page 169.] + +[Footnote 8: See pages 126, 144-156.] + +[Footnote 9: See pages 126-127, 168.] + +Supposing there are 100 ingots, having a total weight of 18,000 oz., +and by assay it has been found that they contain 17,900 oz. of pure +gold, it is required to bring them to the standard fixed by law. A +rule-of-three sum tells how much alloy or how much gold is to be added. +So, if 22 parts of pure gold require 2 parts of alloy, how much alloy +will 17,900 parts require? The fourth term of the following proportion, +viz., as 22:2::17,900:1,627·027, will show how much is to be added; but +since there are already 100 oz. of alloy present, as indicated by the +fact that 18,000 oz. contain within themselves only 17,900 oz. of pure +gold, it is only necessary to add the excess required, viz., 1,527·027, +so that these 100 ingots will produce 19,527·027 oz. of standard gold. +Had the ingots been found to contain more alloy than is required, +it would have been necessary to add so much pure gold as would have +rendered the whole standard. The proportions of the metals having been +determined, the whole mass is divided so as to make about 1,200 oz. +of gold and alloy for each melting-pot. In practice it is customary +to take the estimated amount of gold in a given number of ingots, and +add so much alloy, or so much pure gold, as shall bring those ingots +to standard, the whole weight being generally about 1,200 oz.; this is +called _potting_ the ingots. Ingots are almost invariably melted, and +cast into bars for sovereigns. + +I must here mention that the various illustrations I have introduced +were originally used for the article “COINING” in TOMLINSON’S +“CYCLOPÆDIA,” and the permission to use them here has been generously +granted to me by _Messrs. Virtue and Co._, whose property they are. + +In the illustrative engravings, the initial letters used to indicate +the different parts are made to take their places in accordance with +the order in which the various parts of the machine under description +come into play, so that by tracing out the alphabet in any figure, the +reader will see the consecutive action of the parts of the machine he +is studying. + +[Illustration: Fig. 1.—Gold Melting.] + +Fig. 1 represents the arrangements for melting the ingots with their +alloy, for producing standard gold. In the Mint there are seven +furnaces: each furnace, A, is 12 inches square and 24 inches deep to +the top of the bars, which are seen at the ash-pit B. The pot C is +made of a mixture of Stourbridge clay and plumbago, hence called a +_plumbago pot_; it is 9¼ inches deep, and 7 inches across at the top +inside. The pot, previously annealed, is placed in the furnace on a +_bottom_ which stands upon the two centre bars. The bottom is intended +to shelter the base of the pot C from the stream of air which is +necessary to the combustion of the fuel, but which would damage the +pot. The pot is then covered by its muffle and lid, and surrounded by +fuel, which, as it burns up, warms and then heats the pot to redness, +but so gradually that there is no great risk of breaking the pot. When +the pot has become of a full red heat, the ingots are carefully placed +in it, and the alloy is added by means of the funnel I: the pot is +then covered up, and allowed to remain till the whole mass of metal +has liquefied. The foreman then stirs it with a rod made of the same +substance as the pot, and allows it to remain till the fluid mass has +reached a peculiar temperature, known by experience as that at which +the metal, when poured into a mould, forms the most solid and workable +bar. This temperature having been gained, the two outside bars at B +are removed, the ash-pit is then covered to protect the men’s feet, +and the firing poked out. The lid and muffle are next removed from +the pot, and the pot lifted by an assistant from the furnace by the +crane D. The foreman then conveys the pot C, by means of a pair of +tongs which clasp it, to the frame of moulds, when an assistant brings +forward a loop of iron, suspended by a chain and cord from the roof +of the building, and passing the loop of iron over a button on the +end of the lower clamp of the tongs, as shown at E, F, supports the +weight of the pot by the cord, as indicated at G. Previously to the +melting, pieces of charcoal are placed at the bottom of the pot for +the purpose of reducing any oxide that may be present in the alloy—and +Dr. Percy has found that copper can dissolve 13·50 per cent. of oxide +of copper—because oxide of copper, when dissolved in standard gold, +frequently renders the mass so brittle that when the bars produced are +passed between the rollers they crack and break, just as does gold +containing minute quantities of lead or zinc. The influence of oxide +of copper on standard gold was thus very marked in 1859, when a large +proportion of the gold was so brittle, that if a bar were dropped on +the floor, or tapped with a hammer, it broke, just as heated brass +breaks under similar circumstances. Mr. Richard Smith had some years +since pointed out that if copper in which oxide of copper is dissolved +be poured through an atmosphere of coal gas, all the oxide is reduced. +I therefore submitted this gold to the process thus suggested to reduce +all the oxide of copper, and produced bars so tough that they could +not be broken by a sledge hammer unless after repeated bending by that +means. Yet this gold was not thus cured of its brittleness, but was +treated peculiarly, as will be seen in a future place.[10] + +[Footnote 10: See pages 50-53.] + +When the metal is fused, the charcoal which was placed at the bottom +is brought to the surface by stirring, and as it rises through the +fluid alloy, reduces the oxide of copper, and remains on the surface to +protect the alloy from the action of atmospheric oxygen. In order to +prevent it from falling into the moulds, the assistant holds a piece +of stick at the mouth of the pot, thus allowing the gold to pass, but +stopping the charcoal. The foreman, in the case of gold, judges almost +wholly by the eye, but in the case of silver by the ear, as to when +the moulds are filled. The metal poured from each pot forms four bars. +The moulds H are made of iron, cast into such a form that each piece +viewed from the top has the form of the letter =T=, so that three +pieces placed together form two moulds; the whole of the set is held in +its position by cross-bars, L, which fit into notches cut in the main +frame M, where will be seen two powerful screws by which the moulds are +forced tightly together after the cross-bars L are fixed. J represents +the pots placed so as to be kept dry and ready for use; K, the wheels +and tram on which the frame of moulds runs. The whole of the set of +moulds having been filled, the screws at M are loosened, the bars, L, +removed, and the parts of the several moulds removed, so that the bar +in each mould is exposed to view. The workman takes each bar as it is +exposed by a pair of tongs, and plunges it into a cistern of cold water +to insure rapid cooling, and then places it on a bench, where the +bars produced from each pot are separated and marked with a number, to +indicate the pot from which they were poured, and the entire set with +letters, to indicate the day on which the melting took place. After +these distinctive marks have been placed on the bars, two assay pieces +are taken from the bars from each pot. + +[Illustration: Fig. 2.—Silver Melting.] + +As silver melting,[11] when discreetly conducted, is slightly different +in some of its details, it will be well to describe it here. In Fig. 2, +A indicates the furnace with the front removed, to exhibit the internal +arrangements. The furnace is circular, and is 21·5 inches across, and +31 inches deep. The bars, which are represented by dotted lines, are +removable at will. The _bottom_ B stands on the centre bars, just +as in the case of gold melting: it is filled with coke dust, which +retains any silver issuing from a small accidental crack or pin-hole +in the pot, and also offers a non-conducting medium for the pot C to +rest upon, it being necessary to avoid the abstraction of heat by the +current of air against the base of the pot. A muffle, D, is placed on +the pot, and upon this muffle the lid E rests. The pot is circular, +and provided with a lip, to facilitate the pouring of the metal; it +is made of wrought-iron, 12 inches across at the top, and 15 inches +deep, and when melting for florins is charged with 4,800 ounces of +silver. As in the case of gold, so with silver, the metal is alloyed +with copper; standard silver being composed of 222 parts of pure silver +and 18 parts of copper in 240 parts, or 92·50 parts of silver and 7·50 +of copper in 100 parts.[12] The calculations based on the assays from +ingots are just the same as in the case of gold. The ingots are put +into the pot, and the lid is placed on the muffle (which is intended to +prevent metal from falling over the top of the pot during the process +of fusion, as sometimes might happen when _scissel_[13] is melted), +and the furnace is then closed, so that the air enters through the +bars, and passes into the chimney through the flue F. The lid of the +furnace G is provided with peep-holes, by which the temperature can +be regulated at will, while they also admit of a survey of the state +of the furnace. When the fusion is complete, and carried so far as +to raise the fluid metal to the necessary temperature, the bars of +the furnace, with the exception of those which support the pot, are +removed, and the fuel is poked out, because the pot at this temperature +is so soft that it would be _torn_ if it were pulled through the fuel. +The lid and muffle are next taken off by tongs, and the crane is swung +round by the handle, H, till its tongs are brought over the furnace, +when, by working the handle I, the tongs J are lowered till they come +to the pot; the foreman then makes them seize the pot, and by a signal +gives his order for the raising of the pot from the furnace. Pieces +of fuel and iron scaling are knocked off from the pot by the foreman +with a brush kept in a crucible of water, indicated by V at the foot +of the crane. The crane is then swung round by H, till the pot is over +the cradle K, when it is lowered and secured in the cradle by the +screw, shown at C. The frame of moulds is now run under the lip of the +pot, and the foreman, by means of the handle L, which will be seen to +communicate with the wheels M, and the rack N, tilts the pot so that +the fluid metal may pour in a good stream into one of the moulds O, +until, by the sound, he judges it to be full; he then lowers the pot, +while his assistant, who is also watching the filling of the moulds, +turns the handle P, which, by the wheel Q fitting into the rack R, +moves forward the frame of moulds so far as to allow another mould to +come beneath the lip of the pot, to be filled as before. The fluid +silver in the melting-pot is covered with charcoal, for the same reason +as explained in gold melting, and this is kept back by means of a large +piece of charcoal laid at the mouth of the melting-pot. The frame of +moulds runs on wheels S, and at T is provided with a rack and pinion, +by which the moulds may be moved farther from or nearer to the lip of +the pot, which, as it is tilted, is continually altering its relative +position to the mouth of the moulds, and would, were it not for this +arrangement, pour its metal outside of, or upon the moulds, instead +of into them. The moulds are formed of =T= pieces, in the same manner +as the moulds for gold, and are secured in their position by the same +method, the cross-bars being shown at U. The bars, having been taken +from the moulds, are cooled in water, and distinctively marked, as in +the case of gold. Assay pieces are cut from them, but in the case of +silver three assays are taken from the bars produced from each pot. + +[Footnote 11: See pages 129-138.] + +[Footnote 12: See pages 3, 73.] + +[Footnote 13: This word is explained at page 35.] + +The bars for different denominations of coins are proportioned in their +width, so as to admit of two rows of blanks being cut from the fillets +produced from them. The following statement gives the whole facts +concerning bars for each coin, as used in the Royal Mint. It would be +well to produce bars of a uniform thickness of 0·50 inch, as such bars +may be cast solid, and when cast produce better fillets with half the +rolling, without the cost of annealing. There would be also another +advantage, for the blanks obtained from the fillets produced from bars +0·50 inch thick would not require annealing, and would thus save the +cost of that process, as well as the loss occasioned by it, while the +coins produced would wear immeasurably longer in circulation. There are +other considerations why this thickness should be at once adopted, as +will be shown when the subject of loss by coining is explained. + +I am glad to notice that Mr. Fremantle, in his Report on European +Mints, proposes to adopt my recommendation, as shown by the following +passage, page 9:— + + “... It would seem to be a question whether in a newly + organised Mint considerable time and labour might not be + saved by reducing the size of the moulds in which both gold + and silver bars are cast. The result would be that, as + bars would be thinner when first subjected to the process + of rolling, the time now occupied by that process would + be sensibly diminished. It should also be mentioned that + although there is great difficulty in producing sound + castings if the thickness of the bars should be reduced, it + might nevertheless, for the metallurgical reasons which Mr. + Roberts points out, be advisable to make this alteration.” + +There is really no “_difficulty_ in producing sound castings if the +thickness should be reduced;” but I fear there are many DIFFICULTIES +in the Royal Mint itself. Indeed the casting of the bronze bars—whose +thickness is less than that I propose for those of gold—gives evidence +of the ease with which thinner bars may be produced; yet against +_these, insuperable difficulties_ were urged until I experimentally +demonstrated how easily they could be cast. + + STATEMENT OF PARTICULARS AS REGARDS BARS USED FOR COINING. + + +--------+---------------+-------+--------+----------+--------+ + | Metal. |Denomination of|Length.|Breadth.|Thickness.|Average | + | |intended coin. | | | |Weight. | + +--------+---------------+-------+--------+----------+--------+ + | | |Inches.|Inches. | Inches. |Troy oz.| + |Gold | Sovereign | 24 | 1·375 | 1·000 | 320 | + | | Half-Sovereign| 24 | 1·125 | 1·000 | 250 | + +--------+-----------------------+--------+----------+--------+ + | | Crown | 22 | 2·750 | 1·000 | 300 | + | | Half-Crown | 22 | 2·500 | 1·000 | 240 | + | | Florin | 21 | 2·125 | 1·000 | 220 | + |Silver | Shilling | 21 | 1·437 | 1·000 | 150 | + | | Sixpence | 21 | 1·125 | 1·000 | 120 | + | | Fourpence | 21 | 0·875 | 1·000 | 96 | + | | Threepence | 21 | 0·875 | 1·000 | 96 | + +--------+-----------------------+--------+----------+--------+ + | | Penny | 24 | 2·500 | 0·375 | 100 | + |Bronze | Halfpenny | 24 | 3·000 | 0·375 | 117 | + | | Farthing | 24 | 3·000 | 0·375 | 117 | + +--------+---------------+-------+--------+----------+--------+ + +It is to be regretted that crowns, half-crowns, and fourpences are no +longer coined. It has been represented to me by many manufacturers and +others who employ vast numbers of men, that the disuse of the fourpenny +piece has caused considerable inconvenience in the weekly payments to +their workpeople. The objection to this coin would appear to be that it +is so nearly the diameter of the threepenny piece; but this is obviated +by the fact that the edge of the latter is plain, while that of the +fourpenny is crenated or “milled.” + +The assay pieces,[14] when cut from the bars, are placed in the +divisions of a tray going from left to right, so that there can be +no mistake as to the number of the pot from which the metal comes; +each assay piece is then placed in a small envelope, marked with a +distinctive mark, to characterise the pot from which it came. The assay +pieces are sent in equal numbers to the two non-resident assayers, +who determine, irrespectively of each other, the amount of gold found +in each piece. Suppose we trace one assay piece, and imagine that 120 +are undergoing the same process at the same time. The assay piece is +flattened out into a kind of ribbon, and from it three pieces are cut, +each weighing half a gramme. Each piece of this weight takes the name +of a _thousand_, and is represented by the figures 1,000; but of course +it may be called a pound, a ton, or by any other denomination. Each +piece is wrapped in paper, with three times its weight of silver in two +pieces, both metals being of the same thickness. The parcels, as they +may now be called, are ready for the next process, and are arranged +in their proper places from left to right in the divisions of a tray, +and taken to the assaying furnace. In the assaying furnace is placed a +Payen[15] muffle, or kind of oven, perforated at places so as to allow +a limited amount of atmospheric air to pass from the interior through +its sides into the furnace. The muffle is surrounded with fuel, so that +it is kept at a good—almost white—heat. On the floor of the muffle is +sprinkled some bone ash—obtained by burning bones to whiteness—and on +this bone ash is placed a set of 40 cupels, or little cups, made of +compressed bone ash, and about as big as a florin, and so deep as to +hold about half a teaspoonful of water. When the cupels have been in +the muffle long enough to become red hot, a piece of lead of about nine +times the weight of the gold to be assayed is put into each cupel, +taking care not to let any lead fall over, or it would destroy the +muffle. So soon as the lead has melted, the paper parcels containing +the gold and the silver are placed one in each cupel of melted lead. +In a short time the gold and silver melt together, and, as it were, +dissolve in the lead; then a kind of circulation of the fluid metallic +mixture is observed to take place; and during this circulation, the +lead, as it is presented to the surface, meets with the oxygen of the +atmosphere, and combining with it, forms oxide of lead, which at that +temperature is fluid, and drains into the substance of the cupel, +carrying with it the copper and other impurities contained originally +in the gold, leaving in the cupel a button which contains all the pure +gold and the silver. The cupellation occupies about ten minutes, and +at the end of that time the little mass of fused metal is observed to +brighten up, the signal by which the assayer knows that the process is +finished, and he withdraws the cupels one by one, tilting the fluid +globule on one side, that it may incorporate with it any small globule +which may chance to be upon the side of the cupel. Some assayers +close the doorway of their muffles as the time of the brightening up +of the assay approaches, to avoid the access of the atmosphere till +the buttons have become solid, because the button of metal—by its +silver—absorbs oxygen; and giving off this oxygen at the moment of +solidification, spurts or opens, leaving the button hollow or ragged. +This precaution is not thought necessary by all assayers, nor, indeed, +is this system invariably followed, for some prefer to wrap the gold +and silver in the lead foil which is to be used, and do not care to +have the precious metals of identical thickness; these assayers use a +smaller proportion of silver, viz., 15 parts to 6 of standard gold, +or 17·50 to that which they judge to be _fine_, with a view to avoid +the danger of “spurting;” they also save time by withdrawing the whole +batch of cupels on a tray by means of a peel. The button is taken from +the cupel as soon as it has been detached, either by dropping a little +water on to it, or by allowing it to cool spontaneously, and it is +then hammered out into a strip and annealed. It is next rolled into +a ribbon or fillet, and again annealed, after which it is curled up +into the form of a letter S. Some prefer to roll the piece into a kind +of cushion, but in such a case it is more difficult to remove all the +silver; the proper plan is to expose as large a surface as possible to +the action of the acid in the next operation. + +[Footnote 14: See pages 9, 53.] + +[Footnote 15: That is, made by Payen, of Paris.] + +The S-shaped fillet is put into a flask of nitric acid of specific +gravity 1·23, and the flask is placed in a little cup of brass, +which stands over a small gas-burner, while the neck of the flask +enters a kind of flue, through which a current of air is continually +passing into the chimney of the furnace. The flask being placed in +its position, the gas is lighted, and a gentle heat applied, when the +nitric acid dissolves out the silver from the S-shaped fillet, and is +known to have done its work when red fumes cease to be evolved. The +acid is then poured off, and the remaining sponge of metal is washed +with distilled water, and boiled with concentrated nitric acid, which +removes the remainder of the silver. The sponge of gold is now washed +with water, to remove the nitrate of silver, and is then heated to +redness in a capsule to render it tough, for in its spongy state it is +so rotten that it will not bear to be touched; and although it remains +spongy, it is toughened by being heated to redness. It is now called +a _cornet_. This spongy state is a consequence of the addition of +silver, the presence of which, and its subsequent removal, produce a +separation of the particles of the gold. The gold is thus formed into +a kind of network or sponge, so that the acid can get at every part of +it, and remove any metal which is soluble in the acid. Diluted acid +is used first, because if there be any lead left it is dissolved out, +and because the action of the strong acid is so violent, that part of +it would probably be carried out from the flask. Nitric acid, when +boiling, is liable to form bubbles of gas, which expanding, give rise +to what is called _bumping_; hence it is usual to put a charred pea +into the flask, and this, floating on the surface, causes a more even +flow of vapour and gases, and so prevents bumping. It is probable that +the charred pea determines the boiling at one particular temperature, +for it is found that water, if it be floated in a fluid of a higher +boiling point than itself, may be raised considerably above its +ordinary boiling point, although remaining quiescent till disturbed +by a rod or point. The cornet is next weighed, and as it has been +begun under the idea that it was a _thousand_—1,000—all that it weighs +short of 1,000 is the alloy which has been removed, the object having +been to determine how much pure gold was present in the alloy. There +is, however, a source of error in the process which requires to be +explained. + +It is found to be practically impossible to remove every trace of +silver from the cornet; it is therefore necessary to make an allowance, +the amount of which is determined by a _proof_. The proof consists of +a mixture of gold and silver of known proportions, so that if all the +silver be removed from a thousand—1,000—the remaining cornet should +weigh exactly 916·6. Four of these proofs are worked with each batch of +assays—a batch being 120 assays—under precisely similar circumstances, +every precaution being taken that the four shall be equally distributed +over different parts of the furnace, &c. Now suppose that the proofs, +instead of weighing 916·6, as they would weigh if the whole of the +silver were removed, were found each to weigh 916·9; it would be known +that 000·3 of silver had been retained, and must be deducted from each +of the whole batch of assays. If the assays of coins exceed the limits +of from 917·6 to 915·6, they are repeated, as it is assumed that an +error has arisen. The convenience of considering the ½ gramme as 1,000 +consists in the fact that 1,000 parts of standard gold contain 916·67 +of gold and 83·33 of alloy; so that the result having been arrived at +without any calculation, one source of error is avoided and time is +saved. + +Messrs. Johnson, Matthey, and Co. have invented a tray of platinum +capsules or thimbles, into which the assay pieces are placed for +treatment with acid, instead of into the ordinary glass vessels over +gas-burners. The advantages of this invention are too manifest to +require elaboration; but saving of acid, gas, labour, and risk of +error are amongst the chief of them; and besides, the plan has been in +successful operation in their own assay offices in Hatton Garden, as +well as in other important assay offices, for several years past. The +first cost would seem to be the principal objection to this plan of +Messrs. Johnson, Matthey, and Co.; but this is really a small matter, +for the apparatus becomes stock in trade, and its cost should be +viewed simply as so much capital, whose interest is paid by the saving +effected in glass, but more especially by the smaller amount of acid +actually employed, while the platinum can at all times be sold for +nearly its original cost as old metal. + +The mode of operation is as follows:—A stand of slate is so arranged +that a means of heating is made to rest on its base. For this purpose +a jet of gas is preferred; where, however, gas cannot be obtained, +an ordinary oil lamp or a charcoal fire may be used. On a shelf over +the source of heat are placed two or three receptacles of platinum, +each communicating with a vessel made of porcelain, provided with +three necks and an overflow pipe. There is a kind of sieve or tray of +platinum, so arranged as to carry from 16 to 100 thimbles of platinum, +and provided with a handle, so that this tray, with its charge, can be +manipulated at pleasure. The thimbles vary in size according to taste, +but each one is cut or slit at the bottom, so that the solution of +silver as it is formed may by its density fall out, and allow the clean +acid to take its place. + +When an operation is to be performed, the tray filled with the charged +thimbles—that is, containing the assay pieces—is placed in one of the +platinum receptacles or boilers, and heated to a fitting temperature; +when the desired effect is produced, the tray is lifted into another +receptacle, and again heated; this may be carried to three times if +necessary. The products of decomposition of the acid go, with the acid +which evaporates, into the porcelain vessel, where the free acid falls +through the overflow pipe into a proper chamber, while the acid fumes +pass into the flue through the third neck before spoken of. The parted +assays having been washed by several immersions in boiling distilled +water, without removal from their thimbles, have now to be dried and +annealed in a platinum muffle, so formed as to fit into an ordinary +muffle, and, after annealing, to be weighed in the usual manner, having +saved at least 75 per cent. of the usual trouble. + +It is almost needless to add that the system of _proofs_ above +described must be also used with this process. + +The assay for silver is not so tedious, as it is finished at the point +where it leaves the muffle on the cupel; but up to this point it passes +through precisely the same process as the gold. + +It will have been observed that the event of the process of assaying is +to exhibit the proportion of _bullion_ which may be present in a given +weight of mixed metals, but that it does not demonstrate the character +of the substance which forms the alloy, because this is assumed to +be copper or silver. In practice it is found that the alloy may be +a mixture of copper or silver with lead, mercury, antimony, arsenic, +tin, or zinc, in varying proportions, but whose sum does not exceed the +rate per centum in relation to the bullion which is allowed by law. The +existence of minute proportions of lead, mercury, antimony, arsenic, +tin, or zinc is a matter of great concern, for these, when present, add +indefinitely to the difficulties of the coining departments. + +Under the present system, complete analyses of bullion imported for +coining are a practical impossibility. I would therefore propose to +abolish the office of non-resident assayer, and then to appoint two +resident assayers, who should conduct their operations in independent +laboratories—already existent—and a condition of whose appointment +should be an agreement to conduct, when so directed by the Master +of the Mint, complete analyses of the bullion submitted for assay. +The information thus obtained would enable the melter, by processes +subsequently explained,[16] to remove all those substances which +are _now_ found to be fatal to the coining of certain bullion. The +appointment of officers possessing such ability would be an equal +guarantee with the present for the faithful preservation of the +integrity of the coinage. This suggestion has been adopted and +recommended—so far as regards the resident assayers—by Messrs. C. W. +Fremantle and C. Rivers Wilson, in their “Reports on the Mint,” 1870. +Indeed two assistant assayers have been recently appointed. + +When the assay reports arrive, the Master determines whether the metal +has been found within the limits, and if he be satisfied he writes on +the assay reports “Passed,” and signs the reports. The Deputy-Master +retains the reports as his warrant, and then issues his order for the +delivery of the bars by the melter to the rolling room, as recommended +in my report dated 29th January, 1859; but, as the accounts are kept by +weight, every set of bars is weighed by the officer who receives them +into that room before he gives them to his men to work into fillets. + +When, in 1856, I took charge of some departments in the Royal Mint, +I found that the system of weighing was extremely loose. Officers +were plainly told that if they ventured to satisfy themselves as to +the weight of bullion they had received—in fact, to determine whether +they received what was charged to them—“they would be paid out.” This +state of things led men to accept _any_ weight. But I objected and +resisted; for I found that the average on each day’s work as received +amounted to an habitual minus of five ounces on the weight charged +on silver, while on gold it was seldom so little as one ounce. In +illustration I will state one case which occurred. I delivered 7920·00 +ounces of gold to the Mint Office. When that gold was received, +the official weigher gave me credit for 7918·15 ounces, which was +a deduction of no less than 1·85 ounces. I appealed to the Master, +who by written order directed the gold, the weight of which was thus +disputed, to be weighed by Mr. Pilcher, the officer of the weighing +room, in the presence of witnesses whom the Master nominated. Mr. +Pilcher complied with this order, and gave a certificate, signed by +the deputed witnesses, in which he stated that the gold under dispute +weighed 7919·98 ounces—that is, that it differed in weight as charged +by me to the Mint Office 9·60 grains instead of 888·00 grains, the +difference which the official weigher had deducted from the bullion +I had delivered to him. The custom had been to weigh silver to 0·50 +ounce, and gold to a pennyweight; but I introduced the system of +weighing silver to 0·10 ounce, and gold to 0·01 ounce, and at the same +time induced the Master to order new balances of superior construction +for the coining department, and one specially devised by Mr. James M. +Napier for use in the Mint Office. Of this balance, received after +having been ordered for some years, it will be sufficient to say that +it appears to be extremely accurate when properly used, and is then +capable of great results; but, unfortunately, the system is such that +those who are admittedly unfit may be promoted to important posts, just +because they are senior, and not because of superior fitness for the +work. This fine balance, therefore, becomes equal to a good rifle in +the hands of a bad marksman. Great accuracy having been enforced, the +weighing is now improved, but is still far from perfect, because the +officers are compelled to abide by the decision of the weigher at the +Mint Office, who, as beforesaid, may be unfit for his office, while +the officers themselves are debarred from all checks, by the removal +from the coining department of the set of standard weights, which were +bought on purpose that those gentlemen might check their own weights as +to accuracy. The Master’s order for the removal of these weights was in +the following terms:— + +[Footnote 16: See pages 81-82.] + + “The standard weights hitherto kept in the weighing room + are permanently transferred to the Mint Office. A new set + of standard weights to be made for the Mint Office. The + coining department weights to be examined by Mr. —— + ——, and compared with those in the Mint Office (after + these have been corrected), and reported on by him. Such + examinations to be repeated every six weeks.” + +It should be observed that this order was preceded by one written on +the 2nd February, 1865, which directed that the Mint Office weigher +should be the final judge, but that any officer might demand the +re-weighing of any bullion, while the second weighing was to be final. +All appeals to pass through Mr. John Graham, the order proceeding to +direct that— + + “The final decision is not to be called in question by any + other officer of the coining department.” + +The latter determination, I was informed, was intended to apply to me +personally. Its immediate effect was a deduction of 0·25 ounce from the +first gold I delivered, and a consequent alteration of my book to that +extent by Mr. John Graham, who made a note in writing as follows:— + + “This difference (error) may be accounted for by the + acknowledged error of three grains heavy of the Mint Office + 500 oz. weight. See Œrtling’s Report. + (Signed) “J. G.” + +Such being the circumstances, I submitted; but the result could be in +one direction only, for it had long been maintained that the reported +losses were but “an hallucination,” and were, in fact, a “mere +difference of weighing.” + +It is true that the weights are periodically adjusted, but there is +adjusting and adjusting. These facts have been dwelt upon because +they have a most important bearing on the subject of loss and gain by +coining, to be afterwards treated of. + +Between 1856 and 1866 the old scales were removed, to make room for +the superior balances of Messrs. De Grave, Short, and Fanner, the +eminent scale-makers of St. Martin’s-le-Grand, of whose balances it +is impossible to speak too highly, and of whom it is but fair to +state that the Prize Medal was awarded to them at the International +Exhibition, 1862, for their superior workmanship in balances. + +Since it is necessary for the officer in charge of any department to +ascertain the exact amount he gives to his workmen, and to satisfy +the Master that they have returned—to within the limit of the weight +of one blank of whatever denomination of coin he may be working—the +bullion which they received, it became imperative to select the best +balance; and in practice that made by Mr. S. R. Short, of the firm +above named, was found to be the most serviceable. Mr. Short has +introduced minor improvements from time to time, as experience has +dictated, but the balance about to be described, after years of wear, +determines to within one grain when charged with 1,200 ounces troy. The +mode of proving the accuracy of a balance is to weigh as usual, and +having arrived at a just determination of the weight of the matter to +be weighed, to change the weights to the pan in which the matter has +been weighed, and to place the matter in the pan previously occupied by +the weights, so that both are now made dependent from the reverse ends +of the beam; if the results be identical with the former results there +can be no doubt as to the accuracy of the beam; should there be any +variation, the balance must be adjusted by minute alterations of the +knife-edges at its ends. + +Mr. Napier has made his balance after the principle of Mr. Cotton’s +balance, so that it requires no adjusting screws, but I have no +personal experience of the benefits of this omission. + +[Illustration: IMPROVED BALANCE (TO WEIGH 2000 OUNCES.) + +BY Mʳ. S. R. SHORT, JUNʳ.] + +The balance used in the rolling room of the Royal Mint is specially +adapted for the purpose. Such a balance, as already noticed, must be +accurate, as must also all the balances used in the Mint; but this +balance requires an arrangement by which the pans can be released +from the beam and held firmly while being loaded. Mr. S. R. Short has +been peculiarly happy in effecting this object, as will be seen by +reference to the steel engraving, which exhibits a fine illustration +of Mr. Short’s balance. The raising of the handle A causes the partial +revolution of the cam B—represented by dotted lines—and this, as it +diminishes, releases the lever C, which, by the rods D acting on the +point E, permits the approach of the joints on the rods F towards the +centre. The rods F work on a centre fixed beneath the table on which +the balance stands, so that the closing of their one end causes the +opening of the other. Thus the claws G recede from the wedges H, upon +which they had been fastened, and so release the pan, for the claws act +simply as a man’s hand would act in fixing the pan while it is being +loaded. Immediately upon the opening of the claws another action takes +place by the continued movement of the handle A, which causes the cam +I to rotate upon the friction roller J, affixed to a lever proceeding +from the shaft K, which at L is cut with eccentric bearings, so that +by the partial revolution of K, caused by the pressure of I upon J, +the series of supports M sink downwards from the pans N, thus obliging +the pans, with the rods which support them, to be suspended from the +supports S, which rest on the frame R. So soon as the pans are thus +suspended, the continued motion of the handle A causes the cam O to +permit the falling of the lever P, which at Q supports upon a friction +roller the iron framework R. This framework terminates upwards at the +points near S in sugar-loaf cones of gun-metal, which are intended +to relieve the knife-edges of the beam from the pressure of their +planes while the beam T is out of use, or while it is being loaded, +for at these times the knife-edges would become seriously damaged. +By the lowering of the frame R the centre knife-edge U is permitted +to rest on its plane of steel _c_, which is beautifully bedded on an +arch of gun-metal, as will be seen if the enlarged representation of +this part, and which is shown to the right, be examined. In fact, the +steel plane _c_ is secured by wedges exactly shaped to it, but for the +sake of illustration these wedges have been replaced in the enlarged +portion of the engraving by upright pillars shown against _c_, with +screws travelling through them, and intended to fix _c_ rigidly in a +given position. At the same instant that U comes into rest upon _c_, +the knife-edges V at the ends of the beam T receive the planes W, so +that the beam has now to support the weight of the matter placed in +the scale-pans, and at this time is determined the actual weight of +whatever that matter may be. The weigher, by an indicator suspended +from the beam at X, reads the oscillations of the beam on an ivory +plate at Y. At the time of weighing, the beam with its dependents +is carried by the four-legged frame of iron _b_. The frame R passes +through friction rollers of brass at _d_, which rollers maintain it in +its relative position to the beam. The weighing having been determined, +the handle A is reversed, and the beam is placed at rest; but the +vibration of the machinery in the rolling room causes a continuous +chatter of the knife-edges V against the planes W, therefore at each +end of the beam a small screw Z is made just to touch the lower edge of +the beam when it is at rest. Final adjustments which are very minute +may be arranged by _f_; while the box _e_ on the pan against G is +intended to receive small pieces of lead, which are used to compensate +for the loss by the wearing of the pans. The shaft K is supported from +the table by _a_. The beam of the balance represented in the steel +engraving measures 48·00 inches from knife-edge to knife-edge; that +is to say, it measures 24·00 inches from the centre knife-edge to the +knife-edge at either end. Mr. S. R. Short has made for the rolling +room another balance for weighing silver, and as it differs in some +important details, it is deemed wise to demonstrate those alterations +in Fig. 3, where the supporting frame R will be seen to carry three +upright pillars S¹, S², S³. The pillars S¹ and S³ are represented as +being placed on the farther side of the beam, which at those parts +is broken away, that the pieces of steel against which the pillars +are made to touch may be seen. S² touches against one of these pieces +of steel near the centre knife-edge U, and in front of the beam. The +pillar S² terminates in a point, which passes into an inverted cone, +while the point of S³ is made to pass into an inverted =V=, so that +when the beam is raised by these pillars from its centre knife-edge, S² +obliges it to take a specific position with regard to its distance from +the centre of the plane on which its centre knife-edge rests, and S³ +causes it to take a perfectly parallel line. S¹ is simply a plane which +rises against a plane and steadies the other end of the beam, which by +this arrangement stands as on a tripod, and is, therefore, prevented +from moving, and in addition has its knife-edge invariably placed upon +the same part of the plane at each time of weighing, while the frame R, +by its continued lowering, drops the planes with equal accuracy on the +end knife-edges V. + +[Illustration: Fig 3.—Short’s Plan for Levelling a Beam.] + +[Illustration: Fig. 4.—Breaking-down Mill.] + +The sovereign bars having been weighed by the officer, and given by +him to his men, are wrought in sets of twenty; each set is called +a _batch_, and each bar in the batch undergoes precisely the same +process. The bar is passed into the opening A of the breaking-down +mill Fig. 4, where it receives a considerable compression, for the +rollers B, seizing its end, drag it forward, while they roll back and +retard the progress of that part of the bar which is not between them. +The result is that the bar is lengthened, but not widened materially, +so that length is gained at the expense of the thickness, which is +regulated by the distance between the rollers. The rollers are driven +by shafts and adjusting couplings C, which are themselves driven by the +wheels D. The distance between the rollers is determined by the action +of the lever E′, which, by the endless wheels on its axle at E fitting +into geared wheels, gives motion to powerful screws shown at F, which +terminate in cups on the upper part of the upper brasses of the rollers +B, as may be seen at G. The upper brasses are kept always against the +ends of the screws by weights which are beneath the mill, but from +which levers and rods terminate at the lower part of the upper brasses, +at about the position indicated by I, so that the upper roller has +motion either upwards or downwards at pleasure, but the motion upwards +is arrested by the powerful screws F, and this point once determined +by the reading of the scale H, is fixed by the clamp J. The thickness, +therefore, of each bar in a batch is determined within certain limits; +and when each bar in the batch has been rolled, the mill is altered, +refixed, and again the rolling goes on till each bar has passed seven +times at varying pinches through these rollers. Owing to the wear +of the moulds in which the bars are cast—and which is largely due +to the presence of minute portions of antimony in the gold—the bars +are never of uniform thickness; hence bars of every denomination are +passed through the rollers on their edge, so as to reduce them to one +uniform thickness, otherwise the fillets resulting would be ragged, +and of unequal widths, which defect would cause them to produce blanks +out of _remedy_[17] as to weight. The rollers are set face to face; +the graduated scale H is then fixed at zero; if now the rollers are +separated until there be a space of 1·00 inch between them, the scale H +will indicate 50; if, however, it be desired to read a higher figure, +part of another revolution must be performed, causing the scale to +read, say 31·50 of that revolution, when the rollers will be so far +apart that sovereign bars which pass between them will, allowing for +the expansion after compression, be found to be exactly 1·375 inches +wide. + +[Footnote 17: See p. 39.] + +If now these bars be rolled on their sides, the mill must be turned +down till the scale reads 45, when, if the bars be passed through, they +will measure as under for width and thickness at each successive pinch. +A _spring-pinch_ means the passing the bar once more through the mill +without altering the distance between the rollers. + + A sovereign bar passed Becomes a fillet or ribbon— + through the rolling mill— Inches wide. Inches thick. + At 45·00 1·450 0·775 + ” 35·00 1·540 0·610 + ” 26·00 1·610 0·460 + ” 19·00 1·665 0·335 + ” 14·00 1·696 0·250 + ” 10·50 1·712 0·194 + ” 8·50 1·765 0·148 + ” 7·00 1·778 0·129 + ” 1st spring-pinch. 1·778 0·127 + ” 2nd ” ” 1·778 0·120 + ” 3rd ” ” 1·779 0·118 + ” 4th ” ” 1·781 0·117 + +When the bars have passed through the rollers at 10·50 they have become +of great hardness, and of considerable length, say 6 or 8 feet. They +are then taken to the shears K, where their hollow ends are cut off, +and the bars cut into lengths of 18 inches; or rather, such was the +practice when it was considered wise to obtain as much coined money as +was possible from the bars; but recently, under other considerations, +the old plan of the moneyers has been re-introduced, that of shearing +the hollow ends from the bars before rolling. In this process there +is needless waste, and it is to be hoped that the proper practice +will be reverted to, for under that system the ends averaged 4·26 per +cent., while under the re-introduced one it amounts to 7·03[18] per +cent. on the bars, and for the following reason. When the metal is +poured into the moulds, it almost immediately solidifies, and while +solidification is going on contracts in volume, leaving a kind of cup +of metal or hollow part on the top of the bar. In the act of rolling, +the bar maintains an equable width until this hollow part is reached, +when it suddenly expands, and at this point the workman shears off +the defective part of the bar, whereas in the other case he shears +off the hollow end until his eye fails to discover the effects of the +shrinkage; hence the loss of 2·77 per cent. on the produce of fillets, +as well as the loss in wages for melting the bars. The shears may be +regarded as large scissors driven by a drum on the same shaft that +carries the driving wheel for D. The drum is eccentric, so that at each +revolution the shears are caused to open and shut. The bar being placed +between the jaws K, the long end L of the shears is raised by the drum, +and the piece is cut off. The shears may be closed and the end of L +suspended, when out of use, by a hook on the end of the screw worked by +the lever M. The length at which a bar is to be cut off is regulated by +the gauge shown at N. + +[Footnote 18: See page 112.] + +[Illustration: Fig. 5.—Annealing Furnace.] + +The sheared bars are placed in copper tubes, the tops of which are +luted on with clay. It is imperative that the copper tubes should be +made without solder, because this fuses at a temperature below that +which is required to anneal the gold; if present it would run down +upon the hot gold, and cause it to fuse and alloy with the solder, +thus spoiling the work and entailing expense upon the coiner. The +tubes which are used in the Royal Mint are made by Messrs. Benhams +and Froud, of Chandos Street, Strand, who, after considerable pains, +arrived at a method of making the tubes in such a manner as to entirely +satisfy the requirements of the Mint. The tubes A are placed on an +iron carriage B, which is then run into the furnace, as shown in Fig. +5. The door of the furnace C is closed by raising the counterpoise D; +the heat of the furnace is regulated by the damper E. The apron F is +sometimes of use in annealing very long silver bars. After remaining +in this furnace for twenty minutes, the carriage is withdrawn, and +the tubes, taken with tongs, are plunged into cold water, to cool the +gold as rapidly as possible. The rapid cooling of gold and silver +gives to each metal a peculiar character, which is of value in the +after processes, and prevents the access of the atmosphere, which, in +prolonged cooling, would cause the oxidation and consequent removal of +so much copper that the alloyed metal would become too rich in gold +for circulation as coin. The annealing of some metals is effected not +so much by the continued heat as by the slow cooling; it is therefore +wise to raise the metal to its full heat as rapidly as possible, and +then so to arrange matters that it may cool very slowly. This method +does not hold good in the case of the precious metals and of copper, +for they become, under such treatment, so soft, malleable, and pasty +as to stick to the machinery, and thus to cause considerable trouble +and loss. After annealing, the bars, which are now called _fillets_, +go again to the breaking-down mill, through which they are passed with +the scale indicating 8·50, then at 7·00, and after this are submitted +to another pinch without altering the scale at all; so that what is +called a _spring-pinch_ is given, with the intention of effecting the +reduction of the fillet to one uniform thickness, for the breaking +down and subsequent rolling cause the fillets to become much thicker +in their middle than at their sides. The spring-pinches reduce this, +while at the same time they diminish the elasticity of the metal, and +fit it for the other mills. It will be seen, by reference to the above +table, that the widening of the fillet is very trifling; but width may +be gained to any desired extent, at the will of the workman, if the +bars be submitted to a heavy pinch instead of a series of light ones. +The fillet having been submitted to the fourth spring-pinch, is gauged +on its side by a steel instrument, of which Fig. 6 is a representation. +It is a hollow wedge, which is graduated to the thousandth of an inch. +Supposing that the opening from A to B were extended until it were +one inch wide at A, the space would be divided between it and B into +1,000 parts, and then every fillet passed into this opening would stop +at a given point, say, for instance, at 140; such being the case, +every part of the same fillet should be arrested precisely at the same +point. The fillets are reduced till they measure 117 on this gauge, +and are consequently 0·117 inches thick. They are then passed to the +next mill, where they receive four light pinches, and then to a third +mill, where they receive two more very light pinches, and by means of +these six pinches are reduced in thickness to 0·075 inches. They then +pass to another mill, still finer than any of the preceding, and here +are submitted to four very light pinches, by which they are reduced to +0·058 inches, and are finally finished at the sixth or gauging mill, +where they receive three pinches, and are then 0·053 inches thick by +1·829 wide. + +[Illustration: Fig. 6.—Small Gauge.] + +[Illustration: Fig. 7.—Gauging Mill.] + +[Illustration: Fig. 8.—Ansell’s Standard Gauge.] + +The gauging mill is of different construction from the other mills, as +may be seen by reference to Fig. 7, where the rollers A are seen in the +act of reducing a fillet. The upper roller is fixed in brasses loosely +clamped together; the upper brass, B, being firmly bolted to the main +frame of the mill by the screws _c_, while the lower one C, which +carries the weight of the roller when it is running empty, is supported +by spiral springs shown at D. The lower roller works on a brass, E, +which rests on a wedge shown at F; the brass being cut to fit the +wedge, so that it may become similar to a solid mass, irrespective of +any motion given to the wedge. By this mode of adjusting, a difference +of the 0·001 of an inch may be made with ease between the distance +of the rollers, and, consequently, in the thickness of fillets which +may pass between them. The wedge F is moved forward and backward by +the screw G, which itself has motion from the gear work H, by the +handle I. Directly a fillet is passed between the rollers, the topmost +one is forced against its upper brasses, and further upward motion +becomes impossible. The weight of metal in this roller gives rise to +irregularities in the thickness of the fillets which pass from this +mill, causing much trouble and some expense; therefore it is proposed +to support the upper roller by a similar arrangement to that which +affects the lower roller, and to keep it rigidly against the upper +brass, but with just so much pressure as its own weight would induce +were circumstances reversed, and by these means to relieve the fillet +from the weight of the roller, because that has an undue influence on +each end of it. The gauger of fillets requires other tests besides that +of the thickness of the edge of the fillet, so he punches out a blank +from an occasional fillet by a hand-press, the cutter of which is shown +at J, Fig. 7, worked by the handle K, through the screw L. The blank +falling through the bolster of the cutter is caught at M, and is then +weighed in the hand scales N, against a standard weight, from which it +must not vary more than 0·50 grain. O, Fig. 7, is the gauge actually +used by the workman; Fig. 6 represents the standard gauge used only +by the officer in charge to check the work at its various stages. He +has in addition a gauge of great accuracy, by which to measure the +fillets at any point, as to width and thickness. This gauge will be +more intelligible by reference to Fig. 8. A is the handle, which is +hollow; B is a lever attached to the flat rod of copper C, which at D +is cut with a rack, into which a pinion E is made to work. The pinion +E works on a shaft, the upper end of which carries a hand F, provided +with a vernier G. If now the handle A be firmly held by the hand, +while the thumb be made to press the lever B towards the end of the +handle, the rod C is set in motion, and causes the hand G to travel in +the direction of H. The rod C rests on another rod I, made of steel, +and so long as to pass into the handle of the instrument. The ends of +the rods C and I are fitted at _b_ with steel shoulders, and are then +continued, as represented, to _a_. If it be desired to measure the +thickness of a fillet, the points _a a_ and _b b_ are caused to open by +pressure applied to B, and the fillet is placed between the points _a_, +when a spring fixed in the box K brings back the rod C as soon as B is +gently released, and encloses the fillet. The separation of the points +_a_ by the fillet causes the hand or indicator G to stand at a point +from zero, which is then read. The scale is divided into 500 parts; +and if the points be opened 0·50 inch, the hand makes one revolution; +so that the ·001 of an inch is gained by one reading. But each 0·001 +is subdivided by the vernier into ten, so that a ten-thousandth part +of an inch is read without trouble. To measure the diameter of a blank +coin, or the width of a fillet, it must be placed between the points +_b_; but since the extreme graduation of this gauge is 0·50 inch, +it is necessary, if it be desired to measure a larger diameter, to +press back the lever B till the zero of the vernier G reaches 0·500 +on the scale H, and hold it there while a clamp is made fast at the +spot indicated by the star (*), to prevent the motion of C without I. +When the clamp is fixed the rod I must be drawn out till the zero of +the vernier reaches that of the scale H, when the screws J must be +tightened to retain I in its new position, with half an inch permanent +opening between the points _b_ and between the points _a_. In a new +measurement, that permanent 0·500 must be added to the reading. This +arrangement admits of measuring up to 3·5000 inches, to which limit the +gauge is extremely accurate. The instrument was invented by myself, +because I found it difficult to convince the men that the fillet was +thickest in its middle, and consequently heavier there than it should +be; and, unfortunately, that the workmen habituated themselves to +attributing this fault to each other, when its existence was proved. +The fact was, that under the system which had prevailed, the men—with +a view to make bad work for a specially-designed reason—would set the +upper rollers at varying angles, so that a fillet at one mill would +have one thin and one thick edge; and when that fillet passed through +the next mill, the angle of the roller being altered, would make both +edges alike, but the effect of the manœuvre was to push the metal into +the middle of the fillet, and thus to unfit it for the draw-bench. +Hence the necessity to fix where the blame should rest, and the +production of this instrument, under my direction, by Mr. C. Becker, of +30, Strand, at once overcame all those difficulties. + +[Illustration: Fig. 9.—Small Shears.] + +[Illustration: Fig. 10.—Flatting Mill.] + +The fillets are weighed from the rolling room to the drag room, where +they are finally adjusted; for with every energy, discretion, and +skill, FILLETS CANNOT BE OBTAINED OF UNIFORM THICKNESS BY SIMPLE +ROLLING. In the drag room the fillets are taken to the small shears, +Fig. 9, by which one end of each fillet is trimmed so as to render it +square. The plates A are fixed to the head of a T-shaped lever, which +is caused to oscillate by a cam beneath the floor. The plates A shut +against a face of steel fixed to a block, and held by the screws shown +at B; if therefore the end of the fillet be passed between the plate A +and the face of B, each oscillation causes the cutting off of so much +as protrudes, the pieces cut off falling into the box C, which has now +been enlarged so far as to form a pan all round the top with a view +to catch all of them. D forms part of a chain, by which the shears +are thrown out of motion. The fillets, having been trimmed so as to +render their ends square, are next passed to the extent of about two +inches between the rollers of a flatting mill, shown in Fig. 10, which +reduce that part of the fillet to about two-thirds its thickness. A +A represent a pair of small rollers, the upper one of which is cut +with three flat faces, so that it has three rounding and three flat +surfaces; hence, when both rollers are revolving, there are spaces with +openings between them; but when the rounding faces come down, those +openings are much narrowed, so that any fillet placed between them +becomes thinned to just such an extent as may be deemed necessary. The +rollers travel in opposite directions, so as to cause the expulsion +of a fillet placed between them. The reverse motion is gained as +follows:—The upper roller is driven by B, which receives its motion +from the little pinion C, carried on the shaft which also supports D. +D reverses the motion of E, which is driven from the drum F. E also +drives G, which gives motion to the lower roller. The fly-wheel H +is borne at the extreme end of the shaft which carries F and E. The +fillets are rested on J while being _flatted_, and are, after flatting, +placed in the trough K, from which they are taken to a rolling mill in +the drag room, of precisely the same construction as that exhibited at +Fig. 7, to be passed twice through at equal pinches, with a view to +render them still more accurate than they were when leaving the rolling +room, as well as to reduce them to the exact thickness at which the +trier has found they will produce the best work at the draw-bench. The +rolling mill in the drag room was provided with steel rollers. Steel +rollers are of somewhat recent invention, and seem to have received +a high character from those whose opinion may be modified by further +experiments more accurately made. My opinion, founded on experience, +is to the effect that they are not worth their extra cost; but that +their usefulness may be more fully developed when they shall have been +fitted with the arrangements proposed for the gauging mills before +explained.[19] After these alterations have been made, it may fairly +be questioned whether steel rollers will, under circumstances every +way similar, produce better work than is produced by the ordinary +chilled-iron rollers; in other words, I believe that steel is not a +better substance for rollers than chilled cast-iron. Those who have to +sell, and those who have to use, have, of course, different motives; +he who has to use a machine should judge calmly, and not be led away +because the invention is new. It is amongst these considerations that +I am convinced that steel rollers do not save money; for if they wear +longer without getting out of order, they also require a longer time +to put them again in order. Rollers, made from whatsoever substance, +cannot reasonably be expected to produce a fillet from every part of +which blanks of equal weight can be struck, because it is not yet +possible to produce a compound of equal hardness throughout; but if the +construction of the mill be altered, steel rollers may approach nearer +to that perfection which is gained by the draw-bench, but they can +never replace it. The fillets are taken from the mill to the draw-bench. + +[Footnote 19: See page 23.] + +[Illustration: Fig. 11.—Draw-bench.] + +[Illustration: Fig. 12.—Head of Draw-bench.] + +Fig. 11 represents the _draw-bench_, the name of which is retained, +as being in fact its only appropriate one. The _flatted_ end of each +fillet is passed into the opening shown at A. The _dog_ A´ is then +run up till its teeth seize the fillet. The lever is depressed until +one of the hooks O catches a bar of the circulating chain P, which +in its onward motion drags the dog, and causes it to bite the fillet +and _draw_ it through the opening at which it has been entered. P +gets its motion from a notched cam, the axle of which is shown at Q. +There are two distinct chains to each draw-bench, and there are two +distinct draw-benches, so that one description does for both double +ones. R is a cogged wheel, the shaft of which, Q, carries two notched +drums, and each drum gives motion to a chain, so that both chains +travel at the same pace. R is set in motion by the pinion S, on the +shaft which is driven by the wheel T. T is driven by U, which is on +the shaft driven by the strap and drums V. Fig. 12 is a representation +of the head of the draw-bench, and in studying this engraving it will +be well to refer at the same time to Fig. 11. The dog takes its name +from its resemblance to the head of a bull-dog. It consists of a pair +of levers, whose long arms extend beyond the axle-tree of the wheels +nearest to O, and whose shortest arms are formed by the passing of the +other axle-tree through the lever. The teeth are set at the front of +the short arms. The axle-tree near O is fixed to the bars forming O, +and runs loosely between the long arms of the lever, so that when O is +pulled forcibly it causes the axle-tree to open the long end of the +levers, and thereby to close the short end or teeth of the dog, the +more rigidly in proportion to the pressure exerted at O. Directly the +fillet has passed through the cylinders the dog springs slightly by the +elasticity of the fillet, and thus releases itself from the chain; at +the instant of release the weight over the foremost wheels falls, and +by its fall lifts the hooks O so high as to admit of their escaping +contact with the circulating chain P. The position of the teeth of +the dog is shown by A in Fig. 12. The flatted part of the fillet is +just so thin as to admit of its passing easily between the cylinders +B until seized by A, but the part which is not thinned comes against +the cylinders B, and requires considerable force to drag it between +them. The cylinders B do not rotate; in fact, they may be considered as +forming part of a solid mass.[20] The lower cylinder is laid on the bed +C, and is clamped there by a cheek fastened on to C by three screws, +the holes for which are shown on C; the upper cylinder is fixed to +the mass D by a precisely similar arrangement. The beds C D are held +perpendicularly by the points of the screws E; and we may now view the +cylinders as secured to, and forming part of, their beds. The distance +between the cylinders is regulated by the capstans F, which separate +the beds of the cylinders, and so separate the cylinders. The accuracy +of this adjustment is all-important, because the distance between the +cylinders determines the thickness of the fillet which passes between +them. The bed D of the upper cylinder is required to be movable at +pleasure; it is therefore provided at G with four wedges, two of which, +_c c_, are cut so that if looked upon from the top a round hole shows +itself, and through this hole the end of the screw, which at this +point L is plain, and has a neck turned in it, passes, with its head +beneath the wedges and against the lower G. So soon as this is effected +the wedges A B are pressed into their places, and these holding _c c_ +together, cause them to secure G by its neck; if, therefore, G be now +caused to rise, the block D must rise with it, but the head of this +screw rests on the solid block D, while its neck is just so long as +to admit of this without itself being pressed against the wedges _c +c_. G is a very fine-cut screw which fits into a female screw cut in +the frame of the head of the draw-bench; it is moved to any distance +varying from the hundred-thousandth part of an inch (0·00001) and +upwards by the wheel H, which receives a very minute motion from the +pinion I by means of a lever fitting into the capstan head J. K was +originally intended to be used to set or fix the screw G when it had +been brought to its proper position, but it is not used; for, in fact, +the cylinders wear away appreciably by the passage of the fillets, so +that they constantly require to be brought nearer together to make up +for this wear. With some species of gold the friction is so great that, +although oil is used, the cylinders become so hot as to render the +gold pasty; in such case a kind of welding takes place, which causes +the tearing of the fillet. If this extreme point be not reached, as +indeed it seldom is, the cylinders become of varying temperatures, +and so great is the effect of this, that in order to compensate for +it, the upper cylinder has to be continually raised or depressed. The +beds which carry the cylinders become worn by the strain and fret, +and require grinding out at intervals; therefore, to allow for the +difference which this would make, screws N are provided, by which the +cylinder in the lower bed can always be raised to its proper position. +We cannot but admire the ingenious productions of inventive minds; +and surely if ever there were a marvellous machine for assisting the +coiner, it is this; indeed, it may be doubted whether a more admirable +instrument for its purpose can be contrived. Sir John Barton, who +invented and directed the making of it, took into consideration every +circumstance which could possibly arise, but he never saw practically +the full advantage of his conception. Under my direction, this machine +was so used that the average work produced was very favourably compared +with the trials recorded by Sir John Barton, and details of which were +given to me by the late Mr. W. H. Barton. There are some persons who +smile at the draw-bench, but it is one of those inventions which will +outlive its detractors, at least, so long as economy and perfection +are points to be studied in coining. Foreign Mints are said to have +found no advantage in the use of the draw-bench. It is to be regretted +that they have not found a man with sufficient intelligence to use +so accurate an instrument; it is surely not the fault of the sun if +men are blind to its splendour. Mr. J. Martin, of the Paris Mint, has +recently made some very accurate experiments with the draw-bench, +and has produced results every way in accordance with those obtained +by me in the Royal Mint, and is convinced that the draw-bench may be +considered as the coiner’s right hand. + +[Footnote 20: As the cylinder wears, the screws of C may be loosened +to permit the shifting of the abraded part, so that the whole +circumference of the cylinder may be used.—See also page 31.] + +Against all sound advice the Master had been induced to buy a pair of +steel rollers, at a cost of £800 (I state the sum on the authority of +Mr. W. H. Barton, who, being Comptroller at the time, probably knew the +actual cost), and with these I made an elaborate series of experiments, +extending over many weeks. The results were wholly adverse to the +new rollers—others arrived at the same conclusion—and I reported to +the Master, in writing, on the facts as I found them, showing that +the average gave an advantage of 19·92 per cent. in favour of the +draw-bench, and on this ground I maintained the superiority of that +machine. He replied by a peremptory order, directing me “to prohibit +now and for ever” the “use of the draw-bench, and to take measures for +its removal from the Mint.” Thus absolved from responsibility, I—after +making a written protest—obeyed that which I could no longer withstand. +The result was that the rejected blanks, which had averaged 3·60 per +cent., now advanced to 23·52 per cent. I was unable to avoid this great +expense, and when I spoke to him about it he was not very amiably +disposed; however, he finally wrote me the following note, on which I +remarked to him “that steel rollers, whether driven by cogged wheels or +by straps, would still be steel rollers.” + + “_7th June, 1861._ + + “DEAR SIR, + + “In the cutting and adjusting room you may return to the use of + the draw-bench till the gearing of the steel rollers is altered. + I had overlooked the circumstance that in the United States Mint + cogged wheels are not used for that purpose. + + “Yours truly, + “THO. GRAHAM. + “G. F. Ansell, Esquire.” + +It is satisfactory to me to find that Mr. Fremantle confirms the +opinion at which I had arrived. He says (“European Mints,” page +9):—“The adjustment of the fillets after rolling is in some European +Mints performed by the draw-bench, as in England. In others it is +performed by carefully adjusted rolling mills only. The experience +acquired both in this country and abroad tends to show that it is +advisable to retain the draw-bench—at any rate, until some more +accurate method is found of equalising the fillets and reducing them +to their correct thickness.” If Mr. Fremantle will investigate for +himself instead of being guided by the opinions of others, he will +rigidly follow the correct conclusion at which he has arrived; if, +however, he will look in the drag room in the Royal Mint, he will +discover evidence of the former existence of a series of rollers which +were replaced by the draw-bench. Yet one of his co-travellers, who is +manifestly willing to make experiments, says of the draw-bench, “Still +it has yet to be proved that it can compete in sustained accuracy +with a well-constructed rolling mill.” Quite true; but I think the +answer holds good, and any one who would replace the draw-bench by +rolling mills—which have hitherto failed—should, as Sir John Barton +did, prove his proposition otherwise than at the Government expense, +and then on success obtain fair remuneration. Before leaving the study +of this instrument it is right that I should mention that Mr. John +Murray, of the Royal Mint, has added immeasurably to the value of +it by inventing a most ingenious machine for grinding the cylinders +(see B, page 28) with accuracy, so that those cylinders which have +been used can with ease be, as it were, repaired. In justice to Mr. +Murray I should add that I omitted all mention of his invention in any +former issue, because some principal contractors were to my knowledge +intending to make him an offer of a sum of money for it, and under such +circumstances I could not think it right to give a description of it. A +like feeling induces me to postpone to another occasion details of this +clever contrivance; its simplicity is such that a mere outline would +put a maker of instruments in possession of means for its construction. + +The fillets which have passed between the draw-bench cylinders are cut +into lengths of about 18 inches by the shears shown at X, in Fig. 11, +and are then sent to the trier, who by means of a hand-press similar +to, but more delicate than, that shown at Fig. 7, punches out one or +two blanks from each length of 18 inches, and weighs it, or them, +against a standard weight, and in accordance with his judgment directs +the fillets to be cut by the boys or men at the machines. The trier +allows 0·20 grain on the pound of blanks for the loss which afterwards +occurs by annealing.[21] If, however, the bars, as previously +suggested, were cast uniformly of the thickness of 0·50 inch, this +allowance, which is equal to a value of £34 8_s._ 7½_d._ on each +million, need not be made; but in fact, as will be seen, even this is +not sufficient to cover that loss under present circumstances. + +[Footnote 21: See page 48.] + +Not only has it become a habit to smile at the draw-bench, but every +unfair attempt has been made to get rid of it. Officers were abused +because they would not report against it, and the machine itself was +submitted to usage never contemplated by the inventor. The then chief +coiner, who had formerly seen soap used in calico works in Manchester, +insisted on using soap-suds, whereby the beds for the cylinders became +rusted, the cylinders destroyed, and the whole machine thrown out +of gear, so that 30 per cent. of all the work was rejected: these +perverse trials, extending over weeks, appeared to throw discredit on +the draw-bench. Having been a calico-printer, that officer endeavoured +to engraft on to the processes of coining some of the practices +adopted in that business; but had he duly appreciated the principle +on which the draw-bench acts, he could not have attempted the use of +soap-suds, or, at least, on its complete failure would have assented +to its disuse. The very first object of the draw-bench is to produce +just so much friction as will cause the lateral displacement of the +molecules of the metal then under its operation. Soap, when it adheres +to the bullion, permits the fillet to pass without friction, and +when it is scraped off by the cylinders the gold becomes so hot from +friction that the hand cannot with safety touch it; hence there are +alternating parts of the fillet very hot and absolutely cold, and, as +a consequence, no two blanks can be obtained of equal weight. Sir John +Barton not only made the machine, but determined also that oil was +the only fit lubricator for metal made to pass through the cylinders +of the draw-bench. Forgetful of the immediate wear on the surface of +the metal, others have attempted to replace the cylinders by wedges of +steel, so made as that a constant stream of cold water should keep them +cool when in operation. This also failed from the formation of rust, +while the work produced never equalled that obtained from cylinders. +The proper use of the draw-bench is to reduce fillets to an equable +thickness in every part, and this can only be done when the trier, +after studying the quality of his metal, has determined how much he +can remove by once passing through the cylinders; then by keeping up +a constant succession of fillets, properly smeared with oil, so that +the equable friction always maintains them at the same temperature. +Under such circumstances, and with a remedy of 0·24 grain, the rejected +should not exceed 2 per cent., and this on the whole day’s work should +contain half its weight of light and the other half heavy blanks. This +also was a curious instance of want of knowledge on the part of that +controlling officer, who for years maintained that if the work were +properly conducted _all the rejected_ should be on one side of the +remedy.[22] The fillets, notwithstanding the draw-bench, cannot be +brought to perfect accuracy, and to meet such variations as arise, a +difference is made in two of the cutting-out punches by altering their +diameters to such an extent that a blank cut by them from a standard +fillet would vary in weight from a blank cut by a standard cutter from +the same fillet. One cutting-out punch is so altered that a blank +would be 0·125 grain, and the other that a blank would be 0·250 grain +heavier. This admits of a fillet otherwise too thin being used; but if +the fillet be found to err on the other side, it is passed once more +either through the draw-bench, or through the mill at a spring-pinch. +The trier, Mr. William Fenton, is a peculiarly steady man, possessing +a calm judgment, with considerable energy, and upon him depends the +accuracy of the whole process of coining; he has not unfrequently so +managed his work that upon 5,000,000 of sovereigns coined, he has been +within one sovereign of the calculated value. + +[Footnote 22: See page 39.] + +The fillets, having been thrown by the trier into the receptacles which +indicate the particular cutting-out punches to which they are to be +taken, are fetched by a man, who wipes off the oil, and then carries +them to the cutting-out room, where the fillets are cut into blanks +and scissel. In this place it may farther be noticed that soap-suds +cannot be used in the place of oil, because the soap could not be +removed without washing,—a practical impossibility,—and would therefore +remain, and add indefinitely to the weight of the gold, and thus open +the door for peculation. The cutting-out presses used in the Royal Mint +are very cumbersome, and when in operation are terribly noisy: it is +therefore hoped that at no distant period they may be replaced by some +of a far more simple construction; but it is believed that under all +circumstances it will be found wise to adhere to the plan of cutting +out a single blank at each descent of the punch.[23] For bronze it +is well to obtain five or more blanks at each blow, but the limited +variation of weight allowed by law on blanks of the precious metals +would render this false economy. Fig. 13 represents one of the twelve +cutting-out presses, which are all driven by the wheel A, provided +with a series of cams on its outer rim; one of these cams, B, is in +the act of striking the friction roller C, which is attached to, and +forms part of, the lever D. D is fixed to an upright shaft E, which +at F is cut with a screw thread working into a female screw fitted +into the main shoulder of the press at G. If now the cam B strikes +C, and throws it outwards, it causes the shaft E to take a part of a +revolution, and in so doing the screw F makes it rise and carry with +it the block H, whose tendency to circular motion is prevented by a +plug fitting into its groove, and fixed in the guide I. The lower end +of H carries the screwed cap J, which supports the cutting-out punch, +so that when E rises it carries the cutting-out punch through just the +same distance that itself travels upwards. The cutting-out punch is +now ready for action, and is released by the continued revolution of +the wheel A, as will be seen by the figure; but as it could not fall +with sufficient force of itself, assistance is rendered by the pressure +of the atmosphere, as will be seen by the following arrangement. The +lever D is provided, near its junction at E, with a loop of iron +travelling on a screw, so that it may be moved farther from, or nearer +to, the centre of action, and thus admit of the increase of power. +This loop of iron is represented by K, and is continued by a rod of +iron across the upper part of the room and through a hole in the wall +to a system of levers L, from which a rod is suspended, the lower end +being connected with a piston working in the chamber M. The chamber M +is an hermetically-closed vessel secured to a stone firmly fixed in the +floor. The piston works in this chamber, and is covered with about two +inches of oil, which prevents the access of the atmosphere by leaks to +any part beneath the piston. If the piston, therefore, be raised from +the base of the chamber, a vacuum is produced in that portion from +which the piston is removed, and consequently the atmosphere presses +on the surface of the oil, which in its turn presses on the piston, +and carries it down (the reverse of the action explained by Mr. James +Napier in “European Mints”); in its fall the piston pulls down the +cutter, which has been raised; for the same blow which raises the +cutter also raises this piston; therefore, when the cutter is raised +the workman places the fillet N, from which blanks are to be cut, on +the bolster, shown at O, and holds it firmly while the cutter descends +and punches out a blank, which falls through the bolster into the +drawer P. By the time that the down stroke of the cutting-out punch is +complete, the wedge Q has entered a slit in the spring R, and strikes +the spring, thus throwing the machine back, and preparing it to start +when the cam B shall strike the friction roller C. The point at which +Q may strike R is determined by a screw near the left-hand T. The +upright shaft E, which is partly hollow, terminates at a flat cogged +wheel, and the upper part of F is made to pass into E; while at S is +an arrangement which serves to detach or connect these pieces, that +the cutter may upon occasion be used by the hand by means of the lever +T, as well as to admit of the necessary alterations, as the punches, +by regrinding, become shorter. The cutting-out punch, when it rises, +carries with it the fillet from which the blank has been punched, until +the fillet comes against the guard W, which detaches it. + +[Footnote 23: See p. 169.] + +[Illustration: Fig. 13.—Cutting-out Press.] + +The fillets from which the blanks have been punched have the appearance +of ribbons perforated with round holes, and are now called _scissel_ +(from the Latin _scindo_, to cut). These are thrown into a tray, U, +from which they are taken at intervals, and bound up by strips of the +same into bundles of 180 ounces—in the case of silver 360 ounces—ready +for re-melting. The cutting-out press is set at liberty to start by +the workman pressing his foot on a lever in connection with the line +and spring indicated by V; and so long as he keeps this lever down, +the press is worked continuously, but when he releases it the spring +catches the extreme end of D, and motion is arrested. The blanks +which accumulate in the box P are collected at frequent intervals and +examined, to see that their edges are smooth; if they be ragged, as +may happen from the wear or fracture of the edge of either the cutter +or bolster, a loss would be entailed in after processes which would +cause the coin to be outside the prescribed limit, and to pass at an +illegal weight into circulation, as the rough edges would be removed +after the weighing of the blanks had been effected. According to +the quality of the work—the character of the gold—under operation, +the trier tests more or less frequently the variations of weight in +a given number of blanks. This process is called POUNDING, and is, +next to the _trying_, the most important of his duties; if such an +expression can be admitted, he has, by _trying_, fired his shot, and +here determines if he has hit the bull’s-eye, all depending on his +own unaided judgment. The gauge, Fig. 8, is found of great service in +detecting irregularities as to diameter and thickness, which would not +be, and are not, detected by weight, for the weight may remain equal, +although both diameter and thickness may vary. All these points require +considerable care on the part of those whose duty it is to attend to +them; for the quality of a coinage is determined in this room: blanks +which once leave it cannot be afterwards altered. The subsequent +operations, being purely mechanical, would be quite as well performed +by automaton machines. + +The completing processes form undoubtedly the prettiest and most +interesting part of the operation of coining; nevertheless the +processes already described constitute its most essential features. +The blanks are weighed from this room in drafts of about 720 ounces, +and placed in bags; each bag, therefore, contains four _journeys_ of +about 180 ounces each. The term _journey_ is said to be derived from +an old French word, but circumstances render it probable that this +derivation has been applied by others than the original inventor of +the word, for it manifestly was not used by the coiner of it to imply +a “day’s work.” I cannot find an author who gives a time at which 720 +ounces of silver became a journey, while 180 ounces of gold were also +called by the same name. It must have taken far longer to coin 720 +ounces of shillings or groats than to coin 180 ounces of sovereigns or +half-sovereigns; hence the same word could never have been intended to +mean “a day’s work.” Be this as it may, it is time that such names gave +place to more appropriate and expressive terms. It is to be hoped that +500 ounces will become the standard maximum weight for bags of either +of the precious metals; such a system would be the means of reducing +the chance of error, it would have an actual meaning, and would be a +convenient weight for a man to lift to and from a scale-pan. When such +a measure shall be convenient to the officers of the Bank of England, +that institution will subserve the interests of the Mint by adopting it. + +In a paper recently published by the Commissioners on the International +Coinage (at page 228) it is stated that “in the British Mint 15 pounds +troy of standard gold are coined into 701 sovereigns nearly (15 lbs. = +£700 17_s._ 6_d._).” This statement does not exactly convey the truth, +and is calculated to mislead, because such an operation is not, and +never has been, conducted in the British Mint, where the invariable +rule is to abide rigidly by the law, and to coin 20 pounds troy weight +of standard gold into 934·50 sovereigns, as specified in the Mint +Indenture, now replaced by the Act of Parliament, 33 Vict., cap. 10. +Of these sovereigns so coined, 701 are placed in a bag, and called a +_journey_; but by a Mint fiction the journey was considered by the +old moneyers, and yet more ancient weigher and teller, 15 pounds troy +exact, because the parts of an ounce were difficult of addition; and +this was maintained until 1860, when a disputed weight with the Bank of +England as to the value of the deliveries corrected that which I had +previously pointed out as an error. It is now the custom to consider +a journey as consisting of 180·03125 ounces, instead of, as it is, +180·03210 ounces, an error of ·00085, which has a money value of about +6_s._ 7½_d._ on each delivery to the Bank. + +[Illustration: COTTON’S PATENT AUTOMATON BALANCE. + +WITH PILCHER’S IMPROVEMENTS.] + +The bags of blanks should[24] be carried forward to the room in which +the weighing of the individual blanks is effected by Mr. Cotton’s +automaton weighing machines. Mr. Cotton’s weighing machines form +perhaps the most elegant and clever invention of modern times. They +effect the process of weighing far more accurately than man can hope +to do, and with extraordinary accuracy determine the weight of about +twenty-three blanks per minute. Peculiarly admirable as are these +machines, their perfection has been greatly increased by improvements +suggested by Mr. Richard Pilcher, who has immediate charge of those in +the Royal Mint. Mr. Pilcher, whose inventive genius is only equalled +by his desire to give to the public the benefit of his inventions, +has rendered these automaton balances serviceable to the Mint; +whereas, when they left the hand of Mr. William Cotton, they were +of great service to the Bank of England alone, for there only two +determinations, or in fact one determination is necessary. In that +institution it is required to show that the coins issued by it are not +below the legal weight for circulation, whereas the Mint must guarantee +that coins leave its works neither above nor below the limits fixed +by law: hence the necessity for the incorporation of Mr. Pilcher’s +improvements with Mr. Cotton’s beautiful invention. + +[Footnote 24: See pages 42-44.] + +After reading the letter of Mr. James M. Napier in the _Times_ of +September 2nd, 1869, I can but express my surprise that that gentleman +has not seen fit to acknowledge Mr. Pilcher’s modifications instead +of claiming for himself all the credit, when a part only—and that +undoubtedly an important one—is his due. + +The steel engraving exhibits a view of COTTON’S automaton machine as +used in the Royal Mint, where seventeen such machines are employed. +For the purpose of illustration, the brass side of the machine has, in +imagination, been torn away, as also has the top of the machine. To +obtain the highly-finished drawing from which this engraving was made +was a matter of no ordinary difficulty, but it was accomplished by the +skill and assiduity of Mr. E. S. Gibson, to whom my thanks are due, as +well as to Mr. J. W. Lowry, for the pains he has bestowed in executing +the engraving. + +The whole theory of this balance rests on the fact that the centre +of gravity and the centre of action are in one line: either being +disturbed, the balance is no longer equal. The machine gains its +motion from a shaft fixed to the ceiling of the room. Steam contained +in a boiler exists under an ever-varying pressure, arising from the +amount of work which it may be necessary for the engine to perform, +or from the irregular combustion of the fuel, as well as from other +causes. Since it is of the utmost importance that the automaton balance +should be made to maintain a uniform pace, Messrs. Napier and Sons +found it necessary to drive the shaft which gives it motion by a +small atmospheric engine, which is placed in the weighing room. It +has been found that a chamber may be kept equably exhausted of air, +if the atmosphere be admitted to it by a uniformly weighted valve. +Such a chamber—to be described presently—is used in the Mint for other +purposes, and Messrs. Napier conducted from this a pipe, by the agency +of which the atmospheric engine is worked with a far more even and +steady motion than could be obtained by steam; in fact, the exhausted +chamber becomes a regulated spring, which softens down the variations +in the motion of the steam-engine. The shaft supported by the ceiling +conveys its motion to the weighing machine by a line A, which, passing +over the friction wheels B, circulates round the stepped wheel C, +which runs loose on the shaft communicating with E. The line A is +maintained with sufficient rigidity by a weight D, which is suspended +at the end of the lever carrying the friction wheels B. The weight D +is just sufficient to insure the continuous working of the machine, +but is so light as to permit the line A to slip on C in the event of +anything going wrong in the works of the balance. When the machine +is to be set in motion, a kind of cheek is made—by screwing—to touch +the face of the wheel C, and thus, by friction, C gives motion to the +wheel E. This is an elegant mode of meeting a chance of accident, for +in the event of the weight D proving to be too heavy, any extra force +simply disconnects this cheek from the face of C, and so stops the +machine. The machine having been set in motion, E, by communication +with the wheels F, all of which are driven by it, causes the cam G to +push forward the lever H, which, terminating at I, pushes forward the +flattened continuation of I indicated by dotted lines, until it moves +a blank placed in the collar J, at the bottom of the hopper _h_, on +to the scale-pan K, which, for the sake of clearness, is isolated, +and will be seen behind the machine and under the extreme end of the +hopper. So soon as the blank coin has been placed on the scale-pan K, +the cam L lowers a lever _n_, the office of which is to permit the +opening of the forceps M, and thus to release the rod, Q, dependent +from K upon the knife-edge R. The forceps are closed by the cam L, +which raises _n_, and by it compresses an attached spring. The forceps +are intended to hold _this_ rod Q while the blank is placed on K, +because the friction caused by the placing of the blank would have a +tendency to push K from the knife-edge on which it is suspended, and +thus blunt its delicate edge. While the forceps are opened the cam N, +by its partial revolution, lifts the rod O, which is steadied in its +motion, by a pin rising from it, and entering the inverted arch _o_; +its lower extremity working into a socket on the table on which the +whole frame of the machine stands. + +Towards its lower extremity the rod O will be seen to branch out right +and left, until each end passes through a kind of step in the rods Q, +indicated by P. The office of this rod is to bring the beam, from which +the rods Q are dependent, to a dead level, as well as to release both +ends of the beam by one action. At the moment that the forceps M have +released the right hand rod Q, the cam N, by O, releases both the rods +Q, by rising from the steps P, thus permitting the beam to determine +the weight of the blank placed on K. A close inspection of the steel +engraving will show that the rods Q are suspended from and rest upon +the knife-edges R of the beam S, which has a centre knife-edge T, by +which the whole mass is supported and poised. The knife-edges are +made to find their own planes or resting-places upon curved or hollow +pieces of steel, thus securing the smallest point of contact with a +certainty of the smallest amount of friction. In ordinary balances the +substance to be weighed is placed in a pan, which is on the same level +as the pan which contains the counterpoise; but in Mr. Cotton’s balance +this condition is of no consequence, so that the counterpoise rests +ultimately upon a point which is at the same distance from the centre +of action as the point upon which the matter to be weighed rests. The +counterpoise U is placed in a kind of cage, and any variation from this +standard is at once indicated, even if it reach only to the thousandth +part of a grain. By law, the weight of a coin may vary to a certain +extent from a standard weight;[25] the variation or latitude allowed +is called _remedy_, from the Latin _ad remediam_; and in weighing, +this remedy is taken advantage of by a contrivance much simplified by +Mr. Pilcher. The weight of a sovereign is 123·274 grains, but it may +by law be either 123·474 grains, or it may fall to 123·074[26] grains. +Mr. Pilcher therefore reduced the counterpoise to the minimum allowed, +thus avoiding the placing of a remedy-wire for the light side; and he +then made the remedy-wire _q_ (shown in the first enlarged portion on +the left-hand side of the steel engraving), which is placed on the +stand W, upon a peculiarly-formed point indicated by V, so heavy that +any blank which would not raise it and the counterpoise must be within +the remedy on the _heavy_ side. In accordance with this arrangement, +the continuation of the rod Q is terminated by a cage at V; so that +if a blank be so _light_ as to be unable to raise the counterpoise U +until the stirrup comes in contact with the remedy, it is too light +to make a legal coin. This fact being determined, the motion of the +machine causes the cam X to bring back the rod I (indicated by dotted +lines), that it may be ready when required to push forward another +blank, and the forceps M to grasp the rod Q, while the cam Y permits +the falling of the rod Z, which is nearly counterpoised by the ball _m_ +(the precise length of the rod being regulated by the screw _j_), until +its finger _a_ rests upon the indicator _b_. The depth to which _a_ +shall fall is fixed by the step _l_ (shown by Q in the second enlarged +portion of the steel engraving). This is, of course, determined by the +forceps, securing Q at the position indicated by the weight of the +blank. The indicating finger _b_ having come to rest, the continued +motion of the machine causes the cam _c_ to permit the shoot _d_ to +fall until one of its steps _e_ comes into contact with the indicating +finger, when the lower part of the shoot must be exactly over, and +form part of, one of the tubes _k_, which terminate in boxes labelled +respectively “heavy,” “light,” “medium.” The shoot having taken its +position, the continued motion of the machine causes the cam G to +induce the placing of another blank on the scale-pan K, and this blank, +by advancing, pushes off the one just weighed, which, falling into and +through the shoot, passes to the compartment reserved for it. Suppose +the newly-placed blank to be too heavy for forming a legal coin, the +same operation goes on, but it now lifts not only the counterpoise, but +also causes the stirrup at V to lift the remedy-weight _q_. This is a +most delicate operation, for if a blow, however light, be given, it +would cause unsteadiness in the beam. Mr. Pilcher therefore determined +to make the carriage W, which supports the remedy-wire _q_, stand upon +micrometer screws, by which the remedy-wire is made just to touch the +stirrup, without pressure, while it also rests upon the most minute +points, formed by cutting away every part of V which is not actually +required—in fact, shelving it out. The scale-pan K is protected from +draught by the lantern _f_, while the blanks are directed into the +collar J by the guard _g_, as they slide down the hopper _h_, which +at its centre is supported by an upright, _i_. The blocks _p_ are the +supports which hold all the machinery to the roof of the machine. + +[Footnote 25: See pages 71-73.] + +[Footnote 26: See pages 73, 123, 124.] + +Some new machines have recently been supplied to the Mint by Mr. James +Napier, but it is not certain that these are cheaper than the old ones. +That they are lower in price may be admitted, and they are certainly +more convenient in use, from the fact that the wheels shown at F are +placed at the back. It is, however, to be regretted that Mr. Napier +did not introduce into these new machines the recent inventions of Mr. +William Bradshaw, which are supremely simple, and, now that they are +effected, one cannot but wonder that so many minds having been engaged +on these machines, improvements such as these have not earlier seen the +light. To Mr. Bradshaw, particularly, great credit is due, for he was +obliged to overcome, not only innate difficulties, but difficulties of +position, and these latter were of no mean kind. It is to the credit of +the Mint authorities that they finally adopted these improvements, and +ordered the necessary alterations to be made in _all_ the machines. + +Mr. Bradshaw’s improvements enable the automaton balances to weigh 30 +per cent. more coins in the same time; yet they permit each coin to +occupy a longer space of time in being weighed. This would appear to +be a mechanical contradiction, but if reference be made to the plate +it will be seen that the cam G pushes forward the lever H, which +ultimately, by the slide, pushes the blanks on to the scale-pan K. +By altering the shape of the cam G, Mr. Bradshaw causes it to do its +work more rapidly, and thus leaves the piece on K longer than before; +but that this time may not be lost, he alters also the shapes of the +cam L and of the cam N, so that the forceps M are opened, and the beam +is released more rapidly: thus the balance would be longer in action; +but to utilise the time ready to be saved, he alters also the driving +pulley E, causing the machine to make 30 per cent. more determinations +per minute, and that this may be effected with greater certainty he +reduced the depth of the step, shown at _e_, to just one-half, so that +the beam has to travel only half the distance it formerly travelled to +determine the position of the light, heavy, or medium piece. He next +proceeded to alter the rod O, because he observed that it received a +tilting motion arising from its being lifted by a shoulder, as shown +in the plate. To overcome this defect he made the rod straight up to +a certain point, where he divided it into a kind of loop which passed +over the cam N, which, as it revolves, lifts this rod perpendicularly. +He still found that the cam N had a tendency to push this rod against +its bearings, especially at _o_, so he placed a spring of brass between +the top of its loop and the cam N, and secured at one end to _p_, and +by this contrivance made the cam to lift the brass, and that in its +turn to raise the rod O. There was yet another difficulty, caused by +an occasional stoppage of the action of the spring which softens the +descent of the bearing of the rod O into its lower socket; this he +removed by cutting a hole in the side of the socket, so that it can be +seen at once if the spring be in action. I am not one who approves his +suggestions as to the remedy-wires. These may be the means of saving +time, but they are wrong in principle, and I do not describe them. + +Great inconvenience arose from the collection of dust, spangles of +bullion, and other foreign matter on parts of the balance. This Mr. +Bradshaw overcame by two simple contrivances; first, he pierced the +bottoms of the grooved trays, so that these substances might in a great +measure fall through while the blanks were being arranged in rouleaux, +thus separating the largest pieces, which, falling down the shoot, +would stop its action; and, secondly, he placed a glass shelf midway +between the table and the beam, that is, beneath the hopper _h_, where +it terminates at J, and above the beam S, where it is seen near the +forceps M, thus protecting the beam and forceps. These may appear to +be trifling alterations,—they are nevertheless to Cotton’s balance +what the compound metal balance-wheel is to a watch. Mr. Pilcher was +granted the _magnificent_ sum of £40 for his invention of the file (to +be described), but it is hoped that Mr. Bradshaw will be rewarded with +a far more open-handed generosity; for if, by judicious liberality, +encouragements are offered to those in the Civil Service to give to +the country the benefit of their inventions, we may still hope that +even our Government institutions will bear comparison with ordinary +commercial manufactories as regards the development of inventive +genius. Nor is this a small matter, for all the working improvements in +the Cotton’s balance have been made by those whose duty it is to attend +to their working; yet I am not aware that any acknowledgment, either +direct or indirect, has been made to the officers concerned. It is +said that their salaries cover all their time and energy. This may be +true, but such a policy is not calculated to result in many great steps +towards perfecting either machines or processes. + +It is well to state that the beam in Mr. Cotton’s balance is 8·90 +inches in length, and that its weight is 288·41 troy grains. + +Those blanks which are neither too light nor too heavy are called +_medium_, and are weighed and put into bags for future issue as coins. +The _light_ are reserved for the melting-pot. The _heavy_ blanks should +be reduced by means of a peculiar kind of file to the weight of medium +blanks, and thus saved from being melted, so avoiding further loss +to the Mint. This file was invented by Mr. Pilcher, who, being the +officer of this room, considers his duty to be neglected if there be +any improvement capable of being made, but which is left undone; he +never tires till the invention is complete and the machine made. Mr. +Albert Barre, the distinguished engraver to the Paris Mint, declares +this file to have surmounted all the difficulties he has met with in +this part of the process. In his own words, “it leaves the face of the +blank untouched, and free to develop the work of the engraver, which no +other file does, or can effect, because any metal which is _ploughed_ +out from the face of a blank, leaves a hole which is not filled up in +coining.” + +The opinions which I have here expressed have so far prevailed on two +of the travellers to European Mints, as to induce them to glance, +though rather shyly, at the necessity for reducing heavy blanks; but +Mr. Napier writes a passage which I quote, as it demonstrates that +he, who is admittedly one of the most successfully ingenious men of +the age, has thought over and studied the words I wrote at page 60 of +the last edition—he took that book in his hand to the Mint on the day +after its publication—with that attention to which he thought they were +entitled. I beg the reader to ponder over Mr. Napier’s words, they are +most important; but I hope those who will be called upon to vote the +necessary money will also read my remarks on this extract from Mr. +Napier’s report on European Mints. He says at page 44:— + + “_Treatment of Too-heavy Blanks._—Notwithstanding the + employment of the best mechanical appliances for rolling + the bars, adjusting the fillets to gauge, and cutting + out the blanks, and the most intelligent and painstaking + workmen to carry on the operations, still, owing to + unavoidable imperfections in the means, the blanks, when + cut from the fillets, will not be found equal in weight, + nor, indeed, so nearly equal that they can be recognised as + of equal value, and passed on to be manufactured into coins + destined to be put into circulation, and to represent one + value. The irregularities will necessarily be more or less, + according to the care and ability of the workmen, and the + condition of the machinery; but under the most favourable + circumstances only a certain proportion of the blanks + will be found to come within the limits which it has been + considered desirable to set down to restrict the quantity + of error. + + “This being so, the following questions present themselves: + Are the too-heavy and too-light blanks to be returned to + the crucible and remelted, or to be passed on and detected + only in the finished coin, and then sent to the crucible? + Or are too-light blanks to be avoided altogether, and + all the blanks to be made either of sufficient weight or + too heavy? and in such case are the too-heavy blanks to + be submitted to some process for reducing their weight + to within the legal limit? Or is a more exact means to + be preferred, by which they will be equalised to that + perfection which cannot practically be questioned, and by + which they will become, for all purposes, one and the same + weight? + + “The facts collected are, that at nearly all the European + Mints the reduction of too-heavy blanks, both of silver + and gold, is practised, to avoid the loss attendant upon + their return to the crucible, and that the endeavour is + to make all the blanks either standard weight or heavier, + so as to admit of reduction, to err, indeed, on the heavy + side, even to the extent of necessitating the reduction + of all the blanks. So great is the importance generally + attached to this department, that it is calculated that, in + some instances, nearly as many hands are employed in the + service of it, including the weighing, as in all the other + working departments combined. In Berlin, where particular + care is devoted to the weight of the coins, between 200 and + 300 men are employed in times of pressure in the weighing + and equalising of the blanks, which operations are in this + instance performed by the workman with a hand shaving + apparatus, fixed to the table at which he sits, and a pair + of scales also placed near to him. The work done by one man + is revised by a second, and the file is used for giving the + finishing touch, so that the blanks are brought to great + perfection in weight. But although the extent of the means + shows the great importance attached to the results in the + establishments visited, and the large expenditure which, at + least in the opinion of the directors of these Mints, may + be permitted with profit in this department, the serious + consideration of the employment of so many hands would + militate against the carrying out of the system in the New + Mint. It may be satisfactory, therefore, to know that, + in case the desirability of an exact coinage should be + entertained, means for assuring it are at hand without the + employment of manual labour for the purpose. The subject + has, indeed, for many years occupied attention, and, + after much labour and expense, the difficulties have been + overcome, and a machine has been constructed to the order + of the Government of India which fulfils all the required + conditions for equalising the coinage to that perfection + that no appreciable difference need exist between the + standard weight and the coin blank which has passed through + the machine. This machine differs essentially from those + employed at the Mints visited, and which, it has been + explained, only take a fixed quantity off each blank + presented to the cutting tool, without reference to the + weight of the blank, the operation being repeated or not, + according to the result; or, in other words, no matter what + be the weight of the blank, whether nearly light enough, or + much too heavy, the cutting tool of the machine treats all + in the same manner. + + “The equalising machine referred to, on the contrary, not + only takes from the too-heavy blanks, each in succession, + a quantity of their surplus weight, but it ascertains how + much it is necessary to take off each blank to reduce it + to the standard weight; and it deducts that amount only; + so, although the blanks which are supplied to the hopper, + or reservoir of the machine, enter the machine of unknown + weight, they are equalised by it in once passing through, + and are delivered into a receptacle for the finished work, + all of one weight, the standard, or so near to it that good + ordinary scales, such as are used for weighing blanks and + coins, will not detect a difference. + + “Means can therefore be provided for the purpose, should it + be decided to reduce the blanks to equal weight, or only + to within the pale of accuracy instituted by Parliament, + the basis of which legislation must be taken to have been + the then practicable approach to perfection; for it is + to be presumed that, with a sufficient assurance that + accuracy akin to perfection was attainable ALONG WITH + ECONOMY, the wisdom of Parliament would have enacted + accordingly. + + “The first outlay for self-acting coin blank equalising + machinery WOULD NECESSARILY BE LARGE, but it + is believed at the same time that the saving would be + considerable, especially upon gold. + + “The question of the amount of economy would have to be + more fully gone into, and the expense of the machinery + accurately estimated. Extensive and continuous experiments + with the machine have also STILL TO BE MADE TO ACQUIRE + A KNOWLEDGE OF ITS USE, and to ascertain, after a + _lengthened_ probation, whether any modifications in + the details are advisable: the limited experiments already + made leave no doubt, however, of the successful result. + + “The arguments in favour of an _exact coinage_ chiefly + rest upon an economical basis, and branch out beyond the + walls of the establishment into questions of currency, + wear, and recoinage, which it is not thought necessary to + treat of here; at the same time it may be stated that it + seems desirable that the coinage should be made as exact to + weight as possible CONSISTENT WITH ECONOMY, and + that an _exact coinage_ would be found more economical + as a circulating medium, would be more just, and a better + starting-point from which to legislate for the withdrawal + from circulation of worn coin than a coinage issued from + the Mint with acknowledged errors, or differences in weight + so substantial as to be represented in value, in the case + of gold coins, by some of the lesser denominations of the + coins of the realm.” + +The reasons which Mr. Napier gives are worthy of grave +consideration—they are mine wholly—except so far as regards those to +which I have drawn attention by printing them in small capital letters, +and which show that even with his vast experience he dare not answer +for the success of his machine, while the suggestion of the necessity +“to acquire a knowledge of its use” should make a desire to recur to a +successful machine paramount. If, indeed, I rested on my own opinion, +I should be content to see Mr. Napier’s machine tried, although I +think its failure would be established; but it so happens that I can +quote the opinion of the late Master of the Mint on the machine under +consideration, expressed at a period when the efficiently economical +conduct of the Royal Mint had received his utmost consideration. In his +letter to the Treasury, dated 7th June, 1860, he says:— + + “I may be allowed to call to your recollection that a + Parliamentary grant of £1,100 was obtained by the Mint in + 1856 for the purchase of two automaton filing and adjusting + machines, which it was proposed to have constructed by + Messrs. R. Napier and Sons, the eminent engineers. No part + of this grant has been appropriated. The rapid amendment in + the blanks which took place immediately afterwards led me + to suspend the order for these machines, and ultimately to + abandon the idea of any great expenditure for the object + contemplated. In the meantime also, a machine of a much + more simple character was contrived by Mr. R. Pilcher, of + the weighing room, and was constructed in the Mint, with no + assistance from without. Pilcher’s adjusting machine has + proved sufficiently effective, costs nothing for labour, + and has now been in constant operation for two years. The + cost of making a pair of machines such as we now possess + is estimated at £60, a sum which was saved to the public + by the mode in which the work was executed. Trusting that + the Lords Commissioners of her Majesty’s Treasury will be + disposed to consider favourably the merit and practical + value of such an invention, I venture to solicit their + Lordship’s sanction to the application of £60, the sum + just stated, to the benefit of the inventor, jointly with + an ingenious mechanic on the establishment, who gave + material assistance in the construction of the machine. I + would propose the following awards, if agreeable to their + Lordships:—To Mr. R. Pilcher, £40; to Meredith Jones, £20.” + +It was upon advice tendered by myself that Mr. Graham thus excluded +the machine now recommended by Mr. Napier. I maintain that a simple +machine should be preferred before a complicated one, and the Mint +authorities should give Mr. Pilcher’s £60 machines—admittedly perfect +in operation—a fair trial against Mr. Napier’s £1,100 machines, and see +if they prove _equally effective_. If, on the other hand, Mr. Napier’s +fails, then it is but fair to the public that that machine which is +undoubtedly a success, and for which the inventor has been _publicly +rewarded, although in a most inadequate manner_, should be used. + +The machine thus spoken of was used with the utmost advantage until +1866, when its use was abolished by the advice of Mr. John Graham, who +subsequently, in 1868, broke it to pieces that _his improvements_ might +be rendered permanent, thus causing an expense of 50 per cent. on the +total cost of manufacture for _rejected coins_,[27] because the use +of the file having been abolished, the coined money alone was weighed, +thus rendering it impossible to reduce the heavy pieces. + +[Footnote 27: That is, coins which, although otherwise perfect in +manufacture, are not within the limited variations of weight permitted +by the Mint regulations.] + +[Illustration: Fig. 14.—Pilcher’s Filing Machine.] + +Although the use of this file has thus been stopped, it is greatly to +be hoped that it will again be employed, and thus enable the Government +to produce coined money at the cheapest possible[28] rate, because it +enables the Mint authorities to obtain the largest per-centage from the +bars. Feeling that this much-desired re-introduction will take place, +it is thought wise to give the following description of Pilcher’s file, +which, if not desired for the benefit of our own Mint, will be adopted +by other coining countries:—Fig. 14 is a representation of this compact +machine. The blanks A are placed in rouleaux in a tube B, which is open +at top and at bottom; through the opening at the bottom the blanks rest +their EDGES on the file C, which, as it revolves about 1,000 times per +minute, files off metal from the edge of the blank. Each machine has +two tubes, and when both have been filled the rod D, which carries a +triangular knife-edge, is released by the lever E, and the knife-edge +resting upon the upper edge of the blanks A,—with the intention of +offering resistance to their rotary motion,—enables the operator to +remove MUCH OR LITTLE metal from their edges at pleasure by increasing +the resistance which D offers by adding a weight G on to the gallery F. +H is a glass dish into which the dust, as it is removed from the edges +of the blanks, falls, thus insuring a perfect _separation of the dust_ +from the blanks. The blanks in B are kept in their position by small +blocks of ebony, which are secured by the thumb-screws I. Motion is +given by the wheel J, which communicates with the pulley K by a cord or +catgut. The whole machine stands on a block of mahogany L, secured to a +table of oak. M is a screw which is used to tighten the cords between J +and K. Between C and H is a hopper of brass to catch flying particles +of the precious metals. Each file reduces 250 sovereign blanks per +minute. + +[Footnote 28: See pages 108, 109.] + +The objections which were raised to the introduction and use of this +machine were curious, and amongst others it was firmly maintained that +it caused the coining press to make brockages, because the blanks which +had been filed were smaller than those which had not been thus treated. +The amusing part of this objection was that _all_ the blanks were +afterwards reduced to a uniform diameter by the edges being compressed +_before_ being coined. + +The medium blanks—now unfortunately the coined moneys—are rung by boys +to detect any which may be dumb or cracked, and which are rejected for +melting. Dumb or cracked pieces arise when bubbles of air are enclosed +in the bars at the time of pouring the fluid metal into the moulds in +the melting-house. + +Besides this source of dumb work may be mentioned another of large +occurrence in silver, and occasionally met with in gold, which results +from an imperfect mixture of the alloy at the time of melting, and +developes itself at the draw-bench, where whole fillets, of six feet +long, may be seen to separate into two complete layers of metal, the +inner surfaces being coated with a thin film of copper, frequently +quite pure, but sometimes in the form of suboxide. It would thus appear +that a globule of copper becomes enveloped in a volume of fluid gold +or silver, and, in the act of pouring, this globule is drawn out into +a kind of wire, perhaps extending some inches in length, enclosed in +precious metal. When this is rolled it is all flattened together, but +there is no adhesion between the surfaces, so that when the fillet +passes through the draw-bench the lateral motion given to the atoms +of the metal causes the slip which finally separates the two surfaces +of metal, and the eye at once detects the existence of the fault. In +the coinage of 1857, no less than 141·38 ounces of gold fillets thus +imperfect were returned to the melter in one day, and on the whole of +that coinage these fillets averaged nearly 0·50 per cent. (see page +92). In the case of silver this defect is of less consequence, but +of greater occurrence. It is the duty of the melter to see that such +bars are neither produced nor forwarded, and there can be but little +doubt that in a properly conducted Mint the melter would be directed to +re-melt such fillets without payment to the men. + +[Illustration: Fig. 15.—Jones’s Edge-Compressor.] + +The medium blanks which would now be fit for coining should be weighed +up in bags of about 500 ounces, instead of 180 ounces, as is the +custom, and sent forward to the room in which is placed a machine which +has to diminish the diameter of each blank by compressing its edges. +This is called a _marking machine_, but such a name being obviously +improper, it is preferred to call it the EDGE-COMPRESSOR. Up to 1861 +the best machine for this purpose was that invented and patented by +Messrs. R. Heaton and Sons, of the Mint, Birmingham; but in the early +part of 1858 the subject of the varying diameter of blanks came under +consideration as effecting the production of brockage. Mr. Pilcher was +consulted by me, and proposed a machine, of which he gave the outline, +which I submitted to the Master of the Mint on the 31st of March, 1858. +This machine was to be fed from the top, but was abandoned because +it did not meet the desired minimum of 1,000 pieces per minute. Mr. +Pilcher therefore proposed to erect on the same spindle five revolving +discs, and to face these five discs with as many cheeks. At a given +time it was determined to manufacture a marking machine, and one of +five which Mr. Pilcher proposed was to be made. It was preferred to ask +Mr. Meredith Jones to assist in its manufacture. Mr. Jones had also +a design for a machine for this purpose, and it was arranged that as +Mr. Jones made Mr. Pilcher’s file he should make his own machine. Mr. +Jones proposed, and Mr. Pilcher accepted, the following proposition. +Mr. Pilcher was to retire from the machine, and in consideration of +his so retiring, and allowing the machine to be called Jones’s marking +machine, Mr. Jones was to give Mr. Pilcher one-half of whatever +sum might be paid by the Mint for the use of the machine. Fig. 15 +represents Mr. Jones’s machine. The blanks are placed in the hopper +A, and fall by an incline into a tube B until they rest at C, on a +notched wheel D. As D revolves each of its notches carries away the +bottom blank of the pile from the tube B, and leaves it to slide down +the tube E till it reaches the block F. The block F is cut with a +narrow groove, which exactly corresponds with the groove Gᵃ on the +plate or disc G. The disc G revolves, and as the blank slides down and +comes with some little impetus against the groove in the block F, the +groove Gᵃ catches it, and causes it to take two revolutions between +the disc G and the block F, finally permitting its escape at H, when +it falls into I, being now reduced in diameter and thicker on the +edge, but its centre remaining as it was before. The machine is driven +by J, the shaft of which carries a reduced rigger for the driving of +K. The hopper is supported by the rod L. The distance between F and +G represents the diameter of the blank after its edge is compressed, +this distance being determined by the screws seen at M. Blanks of all +diameters may be compressed at this machine if the block F and the +plate or disc G be removed and replaced by others, neither operation +taking many minutes. The edges of the blanks are compressed at the rate +of 700 per minute. A boy of fourteen could work this perfectly well, +and with more convenience now that the hopper is replaced by such a one +as is used to supply Mr. Cotton’s weighing machine. The edge of the +blank is compressed with a view to prepare it for the _crenating_ to be +given by the collar in the after process of conversion into a coin. + +The blanks are conveyed from the edge-compressor to the annealing room, +where they are placed in rouleaux in iron boxes, the tops of which are +luted on with clay, the boxes are then placed on iron carriages, and +run into reverberatory furnaces, heated by Juckse’s smoke-consuming +apparatus, where they remain for an indefinite period. The furnaces are +like that represented in the rolling room for annealing the fillets in +copper tubes. To anneal the blanks, the temperature should be raised +rapidly until the boxes attain a full red heat; and the time allowed +for the operation should be from twenty to twenty-five minutes at the +utmost. After the heating, the boxes are withdrawn from the furnace +and placed on the floor of the room, till the blanks are assumed to +have become of a low red or black heat, the point below that at which +copper combines rapidly with oxygen; they are then opened. If the boxes +be opened while the blanks are still of a full red heat, there is what +is called too much loss by annealing, or, in other words, too much +of the copper has become oxidised, and thus rendered soluble in the +dilute sulphuric acid into which they are presently removed. The box +having been opened, the blanks are turned out into a copper tray, and +on this carried to a cistern of cold water, in which a colander stands; +they are thrown through the water into this colander, and thus cooled +rapidly. When cool, they are taken in the colander to a leaden cistern +of nearly boiling dilute sulphuric acid, into which they are placed, +and allowed to remain for about three or four minutes. By means of this +bath of sulphuric acid a thin skin of oxide of copper is removed; the +gold on the surface from which the copper has been washed out is of +a sponge-like form, and gives a beautiful bloom to the new coin when +it is struck. This process is called _blanching_, and is of great +interest to the coiner, as it is here that his loss by coining takes +place. The bars of gold sent to the coiner are found to be standard +within certain limits,[29] therefore the blanks produced from those +bars must be of the same fineness; but by this process of blanching, +copper is removed; hence the standard, or the amount of pure gold +contained in the blanks, is proportionably raised, and this tells on +the million to an amazing extent. When the annealing is conducted for +too long a period, the copper becomes oxidised to too great an extent +during the time of annealing, for there is no atmosphere more capable +of oxidising than is that of one of these furnaces; it is for this +reason that the heat should be gained rapidly, before that oxidising +atmosphere shall have time to permeate the luting and attack the copper +of the standard gold. At the trial of the pyx in 1861 the gold coined +by Mr. Thomas Graham, the late Master, was found to be “4 grains on +the pound too fine;” that is to say, containing in 5,760 grains 5,284 +grains of pure gold in the place of 5,280 grains, which it should have +contained. This is well for the people, but it is bad for the Master of +the Mint, because he has lost 4 grains of pure gold on each pound that +he has coined, which amounts to no less than £757·65870 in value upon +every million of sovereigns. This loss may well be avoided, either by +adding extra alloy to allow for this removal of copper, or, as would be +far wiser, by abolishing the process of annealing the blanks, as was +done in 1859, when more than a quarter of a million of sovereigns were +coined from unannealed blanks obtained from brittle gold which was much +harder than any ordinary gold to be met with. It must be remembered +that the saving of bullion would leave a large margin for the increased +destruction of dies, and in addition the coin would wear longer in +circulation. + +[Footnote 29: See page 53.] + +By his elaborate experiments Mr. Charles Hatchett proved not only +that the British standard gold was the best alloy for coins, but that +this alloy should be so manipulated as to avoid either the extreme of +ductility or of hardness, and when this medium was attained the coins +produced wore longer and better than any others. + +It will be of importance in this place to consider the question of +annealing the blanks previously to coining them, and experience teaches +that this process should be omitted. The gold alluded to as coined in +1859 from unannealed blanks was the same gold that was spoken of as +being so toughened in the form of bars when the fluid metal had been +poured through a stream of coal gas.[30] The gold contained antimony, +arsenic, and lead, so was predisposed to become brittle; but by pouring +through the air it absorbed oxygen, and became certainly the most +brittle gold that has passed through my hands. It was toughened by +reducing the oxide of copper, and worked remarkably well, producing +the most workable fillets, regular and uniform blanks, which yielded +an average of 5·67 per cent. rejected. The blanks were tough, soft, +and very malleable, capable of being cut with a chisel without +fracture, and ringing musically on an iron block, thus satisfying +all the requirements of good coining gold; but directly these blanks +were annealed they showed 30 per cent. of pieces so brittle that they +could be broken by a moderate pressure of the finger and thumb. After +coining, the whole mass became so brittle that less than 2 per cent. +remained sound after twice ringing on an iron block, as is the usual +practice. These brittle coins, when again annealed, and suddenly cooled +by plunging into cold water, became tolerably tough, and withstood +ringing to 8 times, when they again became brittle. It now became +evident that none of this gold should be issued to the public,—indeed, +I may state that this same gold had been rejected by all the coining +countries as unfit for coin. It was therefore ordered to be melted +and returned to the Bank as unfit for coin, its value being £167,539. +After every possible obstacle had been placed in the way, I overcame +the aversion to change, obtained permission to try some experiments +on this gold, rewrought it, and coined it all without annealing. The +coin thus produced was so tough that an ordinary man could not break +a sovereign even by the aid of a pair of pliers.[31] Yet when these +toughened coins were annealed, they became so brittle that a child +could break them readily. In the Royal Mint some of these coins in each +state are preserved. Mr. Graham, then ever anxious to secure to the +Mint any advantage, was pleased to address to the Treasury a letter on +the subject of this gold, in which he said, “A correspondence between +the Governor of the Bank and myself on the brittle property of the gold +occasionally imported into the Mint to be coined was formerly brought +under your notice in my letter of the 21st March, 1857. The evidence +of the evil in question was not confined to the Royal Mint, but has, +I believe, been felt at all other mints, and also by goldsmiths +generally, since the recent gold discoveries. It was traced to the +presence in the gold of a minute portion of antimony or arsenic (often +not greater in quantity than one-tenth of a per cent.), which escapes +the observation of the assayers. But no remedy in dealing with such +gold then presented itself, except the expensive one of having the +brittle gold refined. + +[Footnote 30: See page 6.] + +[Footnote 31: These coins, struck between marked dies, may be +recognised by a small line which I placed in the centre of the ribbon +at the back of the head representing her Majesty on the obverse.] + +“An unusually large proportion of the gold received for coining +last year was of this defective character, but the whole of it was +successfully coined notwithstanding, and no part returned to the Bank +to be refined, as on former occasions. + +“This improvement in the practice of the coining department is the +result of a laborious investigation made in the coining department, of +which I am happy to assign the chief merit to Mr. Ansell. + +“It now appears that the antimony or arsenic acts injuriously when +the gold blanks are allowed to cool gradually, but not when cooled +suddenly, after annealing, the gold appearing to have time to +crystallise and become granular under the influence of the antimony +particles in the one case, but not in the other. The improvement may be +justly represented as one of considerable value. It saves entirely much +extra labour hitherto applied to brittle gold without any beneficial +result. It will also lead to the diminution of waste, of which brittle +gold was always a fruitful source.”[32] + +[Footnote 32: Besides many verbal congratulations, the Master wrote me +the following letter:— + + Registered No. 3026, 1860. + Royal Mint, 20th October, 1860. + + DEAR SIR, + + Your success in obviating the difficulty of coining gold containing + a minute portion of antimony or arsenic is a benefit to this + department, which calls for my most grateful thanks. In recognition + of your services I have the pleasure, with the approbation of the + Lords Commissioners of Her Majesty’s Treasury, to present to you the + sum of one hundred pounds, for which cheque is enclosed. + + I have the honour to be, + Dear Sir, + Most faithfully yours, + THO. GRAHAM. + George F. Ansell, Esq. + +] + +I do not accept the conclusion arrived at by Mr. Graham, for my +experiments showed clearly that this peculiar gold could not be heated +even to a black heat after coining without becoming absolutely brittle +under all circumstances. Notwithstanding the experience gained by +the coining of this brittle gold, the annealing of coined money was +effected by the present authorities at the Royal Mint in 1868, when +a vast amount of brittle gold was coined, of which considerably more +than half a million sterling in coined pieces were annealed and plunged +into cold water, just as was done in 1859, and with precisely similar +effects; that is, the production of brittle pieces, as soft as lead +and perfectly rotten. These pieces were sent to the Bank of England, +where they have given great dissatisfaction. They should have been +melted, as were those of 1859. I, being an officer of the Mint at the +time, offered to coin this gold as I had coined that in 1859; my offer +was declined, and a vast mass of very brittle coin was, in addition +to that of which I have spoken as having been annealed after coining, +issued to the public, besides many thousands of ounces uncoined having +been returned to the Bank of England by the Mint authorities, who found +themselves unable to coin it; these facts being, as I think, little to +the credit of the official ability. + +The Right Honourable Lord Kinnaird, with a view to relieve the Mint +authorities, suggested, on the 22nd of March last, from his place in +the House of Lords, a proviso “that such gold”—specified in clause 8 +of the Coinage Bill then under discussion—“should be free from lead, +antimony, and other substances, so as to admit of its being coined +without previous refining.” The Government promised to consider this +suggestion, and, after consideration, rejected it, although the right +thus proposed to be established has always been claimed by the Mint but +disputed by the Bank of England. His lordship then drew the attention +of the House of Lords to the issue of the brittle sovereigns, to which +I have alluded, as having given so much dissatisfaction at the Bank, +and on the 25th of March, the following letter appeared in the _Times_:— + + “THE COINAGE BILL DEBATE. + “_To the Editor of the Times._ + + “SIR,—In your full and very correct report of what I + stated in the House last night on the Coinage Bill, there is an + error which I think must have occurred in the printing—‘sweat’ + should be ‘sweep.’ I think what I said in regard to the £640,000 + sent by the Mint to the Bank would have been clearer if I had + added—‘Its brittleness was increased by being annealed after + coining.’ + + “Your obedient servant, + “KINNAIRD. + “50, Avenue Road, Regent’s Park, + “March 23rd.” + +Attention being thus forcibly drawn to a great evil, the Marquess of +Lansdowne, in reply to Lord Kinnaird’s remarks on the appointment of +Mr. Roberts, stated that “Mr. Roberts was a very eminent chemist, who +had proved his capabilities by devising a system for depriving gold of +the obnoxious properties on which the noble lord recently commented.” +Lord Kinnaird has already pointed out that this process, which the +eminent Mr. Roberts has “devised,” was discovered by Dr. Percy, and +that the process was published by that gentleman so long since as 1848. +Dr. Percy conceived the elegant idea that if a stream of chlorine gas +were passed over an ore containing gold, the chlorine would combine +with the gold and dissolve it out from its matrix, as water would do +sugar. This it does with complete success, forming a chloride of gold +which is readily soluble in water, and from which it can be obtained +with the utmost ease. + +With regard to the invention of the process for which Lord Lansdowne +gave Mr. Roberts credit, the facts of the case stand as follows. Dr. +Percy discovered that by means of chlorine gas he could separate gold +from its ores. He described his invention in the Transactions of the +British Association in 1848, and in the Philosophical Transactions +in 1850. Plattner carried it out practically about 1852 in Silesia, +and I, in January, 1856, conducted a long series of experiments upon +it for the Chancellorsville Gold Mining Company. The exact process +now proposed or “devised” by Mr. Roberts was patented by Mr. Miller, +the present assayer to the Sydney Mint, in 1867—No. 1767. When Lord +Lansdowne finds himself thus deceived, he will probably in future think +it necessary to examine statements suggested to him before making them +from his place in the House of Lords. + +This _new_ process consists in forcing chlorine gas through melted +gold, and it is assumed that the chlorine will carry off the silver, +lead, antimony, tin, and arsenic, which render the gold brittle. On the +face of the proposition, there are very grave reasons for believing +that it will fail if tried. This also is the deliberate opinion of the +most eminent metallurgical chemist of this or any other time; indeed, +it has been tried and found a failure. It has failed of its object, and +instead, attacks the gold, which, with the chlorine, will leave the +melting-pot and pass into the chimney, creating a use for the proposed +chimney chambers of Mr. Roberts. + +Experience at the Mint is to the effect that the run of gold ingots +produced by the melting of worn and light coins culled from those in +circulation is found to be worse than standard by 1-500th, or two in +each thousand parts. There can be no doubt but that this is mainly +due to the fact of the loss of copper by the processes of annealing +and blanching. In actual practice extending over many millions, it is +found that 1,000,000 sovereign blanks lose 5,708 grains of copper: +now, since this copper is removed from the surface, it leaves a +sponge of pure gold coating that surface. Pure gold is very soft, and +rapidly wears away, so that when the coins from which 5,708 grains of +copper have been taken go into circulation, this film of gold, which +amounts to £555·62 on each million pieces, is removed by friction. +It will probably be argued that the copper being taken first and the +gold afterwards, leaves the coin of the same standard as the original +bars;[33] if, however, this proposition be examined, it will be seen +that the bars are assayed and found to be below standard 0·55562 on the +thousand coins; but the blanks obtained from the bars are, by annealing +and blanching,[34] brought to standard before they are coined, and +those coins assayed WHILE NEW are found to be standard by the jury +of goldsmiths at the trial of the pyx, because they retain this film +of gold; let them, however, go into circulation and lose their film +of gold, and they will be reduced to the original composition of the +bar; that is, worse than standard 0·55562 in the 1,000. The trial of +the pyx[35] is supposed to be a great protection to the people against +deterioration of the coinage. This opinion is not entertained by those +who have witnessed the whole operation, for then it is manifest that +the copper is sufficiently oxidised while melting to insure the alloy +containing enough gold to enable the jury to find it “Fine, 4 grains +on the pound,” or any other degree of fineness. There can be no doubt +that the jury should be composed of men knowing something practically +of assaying, and who would not hesitate to publish every detail of the +process adopted, stating specifically the amount of loss incurred by +melting the ingot produced from the selected coins. That the jury is +composed of honourable men—goldsmiths—is beyond doubt; but that these +goldsmiths should know how to assay is also an important matter, and +should be a _sine quâ non_. It would be well if some independent +member would move the House for a return of the assays by the Mint of +ingots produced from worn and light coin received from the Bank of +England. + +[Footnote 33: See pages 48, 49.] + +[Footnote 34: See pages 48, 49.] + +[Footnote 35: See pages 166, 167.] + +Having thus specifically stated in my previous editions the facts as +they exist of our coinage, I waited a refutation of my statement. +I was informed that the Bank of England had made careful assays, +and proved that the worn gold coin was not below the standard of +fineness. I was also informed that bullion merchants in London had +obtained newly-coined sovereigns, and by means of a scratch-brush had +removed the film of pure gold of which I spoke, and upon a re-assay no +difference had been detected. My reply was, and continues to be, the +assays were either made by bunglers or were carelessly made, while with +regard to the statement related _for_ the Bank of England, I simply +refused credence because in my own knowledge that Institution has been +greatly puzzled for years as to the reason of the lower assay, and it +was myself who pointed out the cause to Mr. Thomas Graham on the 4th +January, 1860. That gentleman mentioned my suggestion to the then chief +cashier, who preferred to think “it was due to the base coins which +found their way into the Bank.” I said then as I think now—“I believe +the officers of the Bank of England are far too sharp to take one base +coin in five hundred.” This reply settled the discussion. + +That the light and worn coin is habitually below the standard is +conclusively proved by the fact that if any man should take, as the +great Duke of Wellington did, a thousand sovereigns to a jeweller’s to +be made into plate—and his Grace took coined money that he might be +sure to have plate of the fineness of 22 carats, or standard gold—he +would find, as the duke found to his cost, the plate “cut” at the +Goldsmiths’ Hall as being below standard. That the case still exists is +so well acknowledged by jewellers that they invariably add “fine gold” +when they melt coin for plate which is to be stamped with the Hall mark. + +“Monetarius,” who wrote to the _Times_ from Malvern—where, singularly, +Mr. Thomas Graham was then residing—and Sir John Herschel, quoted in +their letters to the _Times_ the report of a Belgian chemist to prove +that our coinage is invariably standard. Such authorities seemed to +quiet public opinion; but Lord Kinnaird moved on two occasions in +the House of Lords for the “Returns of assays by the Mint of ingots +produced from worn and light coin received at the Mint from the Bank of +England.” The Government firmly refused these returns on the alleged +ground that they were “too bulky;” Lord Kinnaird, however, explained +the true cause of the refusal when he said that these returns would +conclusively prove that the gold coinage, when worn, is habitually +below the standard, as is also shown by Mr. Ernest Seyd in his letter +of the 20th, inserted in the _Times_ of the 21st August, 1869:— + + “... The British public are under the impression that + English sovereigns stand highest as far as correctness in + quality is concerned. In reality, the British gold coin + falls much more below its standard fineness than French, + American, and Russian coin.... But the best proof of the + greater inferiority of the British gold coin is given by + the action of the Bank of England. The Bank of England + cuts light gold coin, and so renders it unfit for further + circulation. The holder of such coin thus loses, in the + first place, the value of the gold worn away by abrasion, + and the cut sovereigns are handed back to him as being now + only bullion (the loss so far amounts to from 1_d._ + to 4_d._ per sovereign); the bullion now remaining is + the metal of which the coin had been made, presumably at + the rate of 77_s._ 10½_d._ per ounce, and worth + that much, or, at the Bank rate for buying gold, at least + 77_s._ 9_d._ per ounce. Yet the Bank of England + will not give more than 77_s._ 6½_d._ for it. + Worth at Mint price, 934½_d._, the Bank pays but + 930½_d._ per ounce—a deduction of 0·43 per cent.” + +_I_ need not express an opinion upon such a case so stated; but I can +quote one of far higher value, for Mr. J. G. Hubbard, who is a profound +authority, says, in his letter in the _Times_ of September 4th, 1869:— + + “This inaccuracy of our Mint assays was pointed out by Mr. + Seyd in his intelligent and well-informed letter of the + 20th ult., and I can corroborate his observations by my own + experience of sovereigns sent to Russia, where the Mint, + more exact than our own, ranked sovereigns at fully ⅛ carat + grain worse than standard.” + +Let us now see what steps are taken by the authorities, and then judge +of their motive for introducing a reform so greatly needed, and which +would never have been attacked had not I unceasingly urged it since +1860. In his Report on European Mints, Mr. C. W. Fremantle says:— + + “I have therefore received with much satisfaction the + expression of Mr. Roberts’s opinion that the process + of blanching may, as far as gold coin is concerned, + be discontinued without detriment to the appearance + of the coin. _It is this process which leads to the + deterioration of standard found to exist in gold which has + been for some length of time in circulation_, and _in + consequence_ of their Lordships’ decision that light + gold coin shall FOR THE FUTURE BE RECEIVED BACK BY + THE MINT FOR RECOINAGE, the question becomes at this + moment one of PECULIAR IMPORTANCE.” + +I have emphasized some of the passages as showing that this decision +is very like that of the unjust judge—not so much from conviction of +right as from the necessity of the case. I do not charge the Mint with +yielding to importunity; but being made to bear the loss, they are +willing to amend that which they _now_ openly admit to have been a +wrong. Why is the opinion of Mr. Roberts quoted? why not some of the +great officials at the Mint? Silence on this head is significant. Mr. +Roberts will hardly desire to claim a discovery which he found in my +last book, for he, too, bought one of the first copies which were sold. +That I may not appear to be claiming that which is not my own, I quote +the words from Mr. Roberts’s report:— + + “It is evident that bars slightly below standard may be + allowed to pass to the subsequent operations of coining, + on the assumption, justified by calculation, that the + blanching would be attended with a sufficient elevation of + standard to bring the coins within the limits of fineness + prescribed by law. The _film of soft pure metal_, + however, _is removed by wear_; and the coins, _when + remelted, will consequently be found to be below standard + fineness_. + + “This is a question of some importance NOW that + the Mint has undertaken the operation of re-coining light + pieces, and I would recommend, therefore, that the process + of blanching gold coin should be altogether abolished.” + +The italics are my own, and if the words so pointed out be read with +reference to those I have persistently used, there can be but one +conclusion, Mr. Roberts having had but a few months’ experience in the +Mint, notwithstanding Mr. Fremantle’s reliance on his judgment. + +As regards the trial of the pyx, useless and mischievously deceptive as +it is shown to be, the Act of Parliament, 33 Victoria, cap. 10, makes +it imperative to give this excuse for a dinner at the Goldsmiths’ Hall +at least once a year. Had the Government assented to the proposition of +Lord Kinnaird, and nominated the Professor of Metallurgy for the time +being in the Royal School of Mines, one of their own officers, and who +at present is the most distinguished of metallurgists, foreman of the +jury, the country could have relied upon the verdict now given honestly +enough; but upon inadequate knowledge, indeed, if the reader will refer +to pages 10-12, it will become clear that so delicate a process as +assaying should be watched by those who can appreciate its refinements, +or its results can possess no judicial value. + +I attended the trial of the pyx, which was held on the 17th July, +1860, with an especial view to, and an avowed intention of, publishing +details of the operation. With a desire to further this object Mr. W. +H. Barton, the then Deputy-Master, gave me the following particulars, +and I, for myself, observed that the coin when melted was placed in an +open crucible, without flux, and for part of the time without a cover: +the ingot produced was of a GOOD BLACK colour from the oxidation of the +copper. The objections to such a melting can hardly be exaggerated, and +I am of opinion that however fairly selected—and they were honestly +taken—1·310 ounces is not a sufficient bulk on which to form an opinion +as to the purity of £24,654,849 of gold coin. + + +------+---------------+--------------------+--------------+ + | | | | Weight of | + | | | Value of the | Pieces taken | + |Coined| Name of Master| Coined Money | from the | + |Money.| when Coin | Pyxed. | Coined Money | + | | was Pyxed. | | for the Pyx. | + | | | | | + +------+---------------+--------------------+--------------+ + | | | £ _s. d._ | Ounces. | + | |SIR J. F. W. | | | + | |HERSCHEL, BART.| 2,977,190 12 2 | 1052·200 | + |Gold | | | | + | |THOMAS GRAHAM, | | | + | |ESQ. |24,654,849 0 9¼ | 8300·087 | + +------+---------------+--------------------+--------------+ + | |SIR J. F. W. | | | + | |HERSCHEL, BART.| 100,450 7 0 | 121·899 | + |Silver| | | | + | |THOMAS GRAHAM, | | | + | |ESQ. | 2,331,666 19 6 | 2811·543 | + +------+---------------+--------------------+--------------+ + + + +------+---------------+--------------+-------------+---------------+ + | | | Weight of | | Weight of | + | | | Coins taken | Loss by | Bullion | + |Coined| Name of Master| to melt into | Melting to | actually | + |Money.| when Coin | an Ingot for | obtain the | taken from | + | | was Pyxed. | the Assay. | Ingot. | the Ingot for | + | | | | | the Assay. | + +------+---------------+--------------+-------------+---------------+ + | | | Ounces. | Ounces. | Ounces. | + | |SIR J. F. W. | | | | + | |HERSCHEL, BART.| 9·116 | 0·020 | 0·766 | + |Gold | | | | | + | |THOMAS GRAHAM, | | | | + | |ESQ. | 51·500 | 0·077 | 1·310 | + +------+---------------+--------------+-------------+---------------+ + | |SIR J. F. W. | | | | + | |HERSCHEL, BART.| 3·137 | 0·046 | 1·287 | + |Silver| | | | | + | |THOMAS GRAHAM, | | | | + | |ESQ. | 67·881 | 0·652 | 1·781 | + +------+---------------+--------------+-------------+---------------+ + +The authorities of the Mint, having assented to part of my proposition, +have yet stopped half way, and blindly considering that the blanching +_alone_ was the cause of loss to and fictitious value of the coinage, +they will find that their loss is greater now than it was when they +unwisely permitted blanching. I do not point out to them the reason +why—that is now their business; but I confess that I am a little +amazed at Mr. Roberts’s recommendation—one that was given up by the +moneyers before he was born, yet now gravely made by that gentleman in +these words, “I should prefer that in order to prevent needless wear +to the dies, the blanks should be annealed, after every trace of oil +has been removed by washing with the aid of alkali, the utmost care +being taken to avoid oxidation by exposure to air.” One seems to see +Mr. Roberts in the presence of men who would dwell on his instructions +as would a soldier on those of his general, directing the filling of a +copper tube with gold blanks, previously divested of “oil by alkali,” +so as to leave a film of lime soap neatly protecting their surface, and +covering them with powdered charcoal. The tube so filled will be duly +placed in the furnace, duly heated, and duly plunged into the cistern +of cold water by the foreman, who, having taken an insurance ticket +from the Accidental Death Company, feels quite safe, when, suddenly, +a mass of copper and some pounds weight of gold blanks occupy the +space from which it is hoped his head may have retired in time. Quite +seriously, I have seen the cap of a tube blown suddenly off, and the +blanks projected from the tube so plunged into water—from the same +cause that bursts a kitchen boiler when cold water is admitted to one +already red hot—with such violence as would certainly kill a man if he +chanced to be in the line of fire. Do they not at the Mint understand +the true cause of loss? An officer who tells his men to “go and do,” +is not so likely to effect his object as if he were to show them “how +to do” the work required of them; neither “bullying” nor making the +men pay for losses will stop those losses of bullion. Knowledge alone +is power. Knowledge alone can direct. Knowledge alone is required in +the Royal Mint. There are plenty of men there who are most desirous to +carry out any instructions; but, if the bugle give an uncertain sound, +who can obey? + +The effect of the annealing having been thus dwelt upon and explained, +I will continue the description of the subsequent operations, stating +what was formerly done and what had better be recurred to till +experience is gained by those who are entrusted with the management of +the Mint. After about three minutes’ boiling in dilute sulphuric acid, +the blanks in their colander were washed under a stream of cold water, +to remove the sulphate of copper and the sulphuric acid from their +surfaces, otherwise these substances would deface the dies used for +coining, as well as give the coin a dirty appearance. From the washing +they were taken to a sieve of sawdust, A, Fig. 16, into which they +were thrown to be dried by friction with the hand. A revolving drum +of brass lined with wood has lately been introduced for this purpose. +The objections to this form of apparatus appear to be that the blanks +get hardened by blows, through falling against each other, lose more +in weight, and become indented on the surface, thus producing a less +perfect coin. It had been wiser to have introduced a sieve with an +eccentric motion, which, if filled with sawdust, would shake that dust +between the blanks and dry each one perfectly, when, by the removal +of a false bottom, the sawdust could be allowed to sift itself from +the blanks by one or two turns of the sieve, and the latter would be +as soft as they invariably were before the introduction of the brass +drum. This would be a matter of importance if, as is to be hoped, +the authorities are induced to abolish the process of annealing and +blanching, for then it would still be necessary to remove the film of +oil which is left on the blanks in the cutting-out process, and this +could be done more quickly and effectively in the proposed sieve than +by _any other process_. The sawdust absorbs the water from the surface +of the blanks just as would a piece of sponge; but the surface is not +all, for it is found that by the removal of the copper the gold on the +face of the blank has been brought almost into the condition known as +_frosted_; it is, in fact, to a small extent, honey-combed. The gold +represents the comb, and the copper the honey, but as the copper is +removed, water takes its place, and has to be dislodged from these +interstices by heat. The blanks, having been partially dried in the +sieve A, are put into the tray B, and from this they were shot into +the colander oven C, which was closed, and then thrust into the heated +chamber D, and twisted gently round and round at intervals during ten +minutes. The blanks were then turned out into a sieve E, by which any +particles of dust were separated; the blanks were finally, by the aid +of the tray B, placed in a bag. The sawdust fell from the sieve A on +to a plate of iron heated by the furnace E, by which it was dried, and +became ready for another operation. The chamber D was heated by a small +furnace beneath it. + +[Illustration: Fig. 16.—Drying Room.] + +[Illustration: BOULTON’S SCREW-COINING PRESS. + +AS USED IN THE ROYAL MINT.] + +The blanks, having been thoroughly cleaned after annealing, are taken +to the coining press, which at the present time is, as to efficiency, +about what the old water-wheel is to the steam-engine; yet, as a relic +of the past, it is a magnificent conception. It is perhaps the most +interesting in its work of any of the coining machinery; its action +is truly pleasing to watch, but one must feel that the totally deaf +would enjoy the watching it at work more than do those who are endowed +with the sense of hearing, because the noise of the presses would not +disturb their thoughts. The noise is really painful. In these opinions +Messrs. Fremantle and Napier express entire concurrence. The blanks +taken from the colander oven are each by a single blow at this machine +converted into coins possessing the obverse and reverse impressions, +as well as the _crenated_ edge, which is one of the means employed to +protect the coin from the peculations of the clippers, those enemies to +coin of all ages and all countries, but whose business has departed, +not so much from the crenated edge as from the better balances placed +in the hands of almost every man—certainly within reach of every +man. The crenated edge is known to be no protection against the plan +called “sweating,” and which is effected by shaking the new coins in +bags, when perhaps an ounce of gold may be obtained from 1,000 new +sovereigns. The sovereigns thus treated are passed, and the operator +makes his profit, but the light gold is detected by the balance, not by +the eye. This is not the place to discuss[36] such a question, so that +we pass on to a description of the machine which is used to give the +image and superscription to coins which will be current in accordance +with the law. + +The steel engraving illustrates Mr. Boulton’s screw-coining press. The +blank is laid by the automaton hand D on the lower die F; D retires, +and the collar then rises and encloses the blank, while the upper die, +fixed to the main screw of the press by the securing apparatus M, comes +down with a blow estimated to be about forty tons, and, striking the +blank, causes its particles to re-arrange themselves, and to assume +the form given by the engraving on the dies and the crenated collar +which surrounds them;[37] in other words, the plain blank becomes by +one blow a coin in every way complete. The following description will +convey to the reader an explanation of the processes as they arise. +The press having been set at rest, with the fullest space between the +dies, is called _up_—that is to say, the upper die has been raised from +the lower die, and in this position the automaton hand D has conveyed +a blank from the tube E to, and holds it over, the lower die F; upon +the first motion of the press downwards, the eccentric wheel or cam +A causes the lever B, which works on the pivot _a_, to withdraw D by +the pin C. The lever B may be lengthened or shortened at pleasure +by an arrangement against the lower B. The first motion towards the +withdrawal of D causes its finger or hand to open, and to release the +blank, which falls upon the face of the lower die. The opening of the +finger, or hand, is effected by a pin which works in a slit in the +movable finger of D, near to C. The continuation of the motion which +draws back D, causes the rods I, which are carried by the main screw +G, to release the collar K, by the levers J. The collar K, being thus +relieved from downward pressure, rises by the elasticity of the springs +L until it wholly encloses the blank which has been left on the lower +die. The rods I pass through the shoulder of the frame of the press, +and are destined for another service besides that just described; for +the main screw G, which travels through a female screw fixed in the +frame of the press (as may be seen by the dotted lines between G and +H), thereby receives its power to rise or fall upon each part of a +revolution, whereas the upper die must strike the blank a blow just +such as would be struck by a hammer, and without a twisting motion; +therefore that motion of G is lost just below H, where G fits into a +cup suspended rigidly on, and is prevented from twisting by, the rods +I, as shown at N. To the lower part of the cup N is fastened M, which +carries the upper die. So that, just at the moment that the levers J +have permitted the collar to enclose the blank, the upper die reaches +the full force of its blow, and comes upon the blank. The force of the +blow, by converting the blank into a coin, causes an instantaneous +recoil of the screw G, which is assisted in its rise by a kind of +balance just equal to its weight. The nature of this arrangement +will be better understood by reference to the engraving, where the +funnel-shaped tube O is seen to be traversed by a rod X, represented by +dotted lines, and which terminates in the head of the screw G near the +lowest X; the opening in the funnel being for the convenience of fixing +this rod to G. At Y is a swivel, where the twisting motion of X, given +by G, is lost. X is connected at its upper end with a balanced beam +W, the other end of which is in communication with the chamber V by a +rod which carries a piston working in V. The chamber V is not wholly +exhausted, but is in connection by a tube with the partially-exhausted +chamber T, an arrangement which, while it becomes a counterpoise to the +weight of the press, is used as a regulator of the blow to be given, +so that it is quite possible to coin blanks of differing denominations +by the agency of this chamber without altering the vacuum in the large +vessel T. + +[Footnote 36: See pages 123-125.] + +[Footnote 37: See page 80.] + +The motive power of the press, that which brings down the die with +force, is gained by the pressure of the atmosphere upon a piston in +the cylinder R, and is conveyed to the press as follows:—The lever +P is fixed firmly on to the trumpet-shaped tube O, and is connected +by a series of rods, Q, with the piston in R, from which the tube S +communicates with T. The large chamber T is kept in a constant state of +partial exhaustion by the action of a thirty horse-power steam-engine, +through a well-made iron tube of considerable length. The boy who works +the press starts it by first pulling a cord _f_, terminating in the +box in which he sits; the cord _f_, by its spring _n_, releases the +valve _d_ at _i_, and permits it to act when required; he next pulls +the cord _g_, which by its loose lever opens the valve _j_, through +which the atmosphere passes freely across the bottom of the piston in +the cylinder R into the tube S, and so into the partially-exhausted +chamber T; this would cause a rush of air through the valve _d_, but +_d_, at the instant of its release by the line _f_, is closed by a +spring. Atmospheric air expands instantly if the pressure be removed +from it, so that immediately on the opening of the valve _j_, the air +beneath the piston in R expands, and part of it, entering the chamber +T, produces an unequal pressure upon the upper and lower sides of the +piston, and the result is that the piston is forced down by the weight +of an atmosphere it is unable to support. By the time that the piston +has completed its stroke, the rod _c_ has brought a button, which it +carries on its farther side, and situated at _k_, down so low that it +strikes the lever _l_, and closes the valve _j_, thus stopping the +expansion of air below the piston, while the button _m_ has at the same +instant permitted the falling of the lever _e_, and the consequent +opening of the valve _d_; when the recoil of the screw G takes place, +the piston in its descent expels (by compression) the small amount of +air remaining in the cylinder R through _d_, thus opening it so that +air can rush in at this valve and permit the rising of the piston. The +rising of the piston insures the removal of the button at _k_, and so +soon as _k_ is removed, _l_ is forced up by a spring at its farther +end, and opens the valve _j_, thus giving the means of consecutive +action to the press. If it be desired to stop the press, the boy +loosens the line _f_, and so permits the spring _n_ to keep the valve +_d_ permanently open. The boy, before supplying blanks to the tube E, +piles them on an iron block _b_, and flattens each blank in the pile by +one or two blows of a hammer on the top of the pile. + +In “European Mints” are some apt words, with which I conclude my +remarks on this great invention of Mr. Boulton—great beyond compare +at the period of its birth, great beyond admiration if its results be +estimated faithfully and gratefully by a thoughtful people. We in our +day are indebted to Mr. Boulton for his press; yet its age has passed, +and as a park loses its timber, so must our Mint lose—sorrowfully +to all who love the past—its glorious mementos of men who dwell in +history to make present men mere manikins. Original minds are not +now tolerated; subservience if you will; but invention—not if a man +values or depends upon his office. Mr. Napier says truly, “The press +just mentioned and its apparatus are complicated, scattered, and +unhandy, reaching into three apartments, and require a foundation of +great solidity, and a special construction of building. The noise and +vibration accompanying their performance are disturbing to a greater +extent than in the case of the blank cutting screw press to which +reference has been made.” + +It has been conceived that coins are made of two discs of metal +soldered together, and that the crenated edge is intended to hide +the join. This notion has arisen from the occasional appearance of a +cracked coin in circulation; the true explanation of the cracked coin +being that at the time of pouring the fluid metal into the mould, an +air bubble has been enclosed, and this air bubble has rent the fillet +asunder at the time of its being rolled; but the separation does not +exhibit itself until the final annealing, when it is too late for its +discovery: recently, however, it has become a custom to ring the coined +gold before it goes into circulation, and thus to detect and stop such +defective pieces. + +[Illustration: Fig. 17.—Petition Crown.] + +[Illustration: Fig. 18.—Inscription on edge of the Petition Crown.] + +[Illustration: Fig. 19.—Fillet and Collar.] + +The origin of the crenated, commonly called the “milled,” edge (thus +giving the name of the instrument to the substance operated upon), +was the desire to make any clipping of the coin easily noticeable. +Many devices were used, but John Evelyn suggested the motto, _Decus +et tutamen_,[38] and this was retained for some coins until 1854. The +crenated edge is now produced, without exception, and it is really +the best, as admitting of easier detection if counterfeited. The +distinctive marking of the edges of coins is of very early date, and +was performed by various species of hand labour, each in its turn easy +of falsification. At length this was effected by machinery, until +finally the coin was formed by striking the blank while enclosed in a +collar. The use of the collar, and its first invention, are somewhat +doubtful; Mr. Hawkins, however, appears to have established the fact +of its having been used at so early a date as William the Conqueror +(_vide_ “Ruding,” vol. i. p. 158); but the earliest coin which gives a +clear notion of the use of a collar is the celebrated Petition Crown +of Simon, which he coined for and presented to Charles II. Fig. 17 +represents this very highly-prized coin, one of which was sold a few +years since for £275. This wood engraving is by Messrs. Cheshire and +Dickenson, from a fac-simile drawing taken by Mr. E. S. Gibson; it is +an exact copy of the coin in the Mint collection. It is surrounded +on its edge by a petition in raised letters, of which Fig. 18 is a +fac-simile. The late Mr. W. H. Barton thought that this coin must have +been struck while surrounded by a collar, or it could not have been +produced at all. This opinion induced a further search for the collar +which was used, and which is believed to be in existence, and to have +been seen by men now living,—it is probably amongst the collection of +curiosities of coining left by Mr. W. H. Barton. Mr. Barton suggested +that the petition must have been engraved on a fillet of steel, which +was then coiled up in a collar, as indicated by Fig. 19, and that the +blank to be coined was then placed in the coiled fillet of steel. +The coin having been struck, the fillet with the coin was knocked +out from the collar, just as medals are now knocked out; and, once +free, the fillet sprang off from the coin. This conjecture was so +strongly confirmed by minute examination, that it may be interesting +to represent the mode of operation by means of Fig. 19, where A is +the engraved fillet coiled up and just ready to drop into the collar +B; the opening C which is left is copied from the petition on the +coin, which shows the metal to have been forced through this part of +the fillet, where its ends, which were cut to fit each other, did not +quite meet. The head of this protruding part has been filed off, the +file marks still remaining visible on this part of the edge of the +coin. This fact renders Mr. Barton’s conjecture almost a certainty. +The coin weighs 517·10 grains; its average diameter is on the obverse +1·5784 inches, and on the reverse 1·5837 inches, both measures having +been taken on the extreme edge. The petition is somewhat sunken and +rounding inwards; if therefore it be measured from its lowest part, +the centre of the edge of the coin, the diameter of the coin is 1·5741 +inches, giving 0·0043 inch which must be worn away before the top of +the letters of the petition can be touched in ordinary wear; thus the +coin would circulate for centuries, and its petition still remain +untouched. The coin being 0·0053 inch greater in diameter on its +reverse than on its obverse side, admitted of its being more readily +punched out from its collar, which was doubtless cut to admit of this +design being carried out. The engraving on this coin is the cause of +its great value, Simon having so perfectly carried out the idea that +coins should represent sculpture, that this specimen stands wholly +unrivalled as a coin. It has led to the impression that so good artists +are not to be found at this day as flourished then. The fact is that +artists seek such employment as remunerates them for their study; and +until their conditions of employment are satisfied we must abstain +from the desire to see coins such as were produced in ages past, and +which gave an honourable name to the country producing them. It may be +hoped that this means of preserving the history of the age in which so +much has been done may be continued. It was probably from this collar +of Simon’s that Sir Isaac Newton gained his idea for that which he is +said to have invented. The collar of the present day leaves nothing +to desire, for it gives so distinctive a mark to the edge of the coin +that any mutilation must be detected; while forgers are unable to +produce coins to imitate those struck in it, unless they use the same +means, which would incur too great an expense. The coinages of Victor +Emmanuel illustrate beautifully how easily coins may be struck, so +that, after years of wear, they still represent the original more than +creditably. To take an instance, a bronze coin, 5 centesimi, has been +purposely subjected, for nine years, to more than ordinarily rough +usage. This coin is little worn; the whole of the features are still +perfect, except that the hair is worn off above the ears, and part of +the moustache is removed. The secret of success in this coin appears to +be that the ear and adjacent parts are slightly sunken, while the whole +of the work and inscription are kept well below the protecting edges, +and there is not an indistinct figure or letter on the coin. + +[Footnote 38: In Evelyn’s “Discourse of Medals,” 1697, p. 224, occurs +the following passage:—“Mr. _Slingsby_, to whom I suggested the +_Decus & Tutamen_ out of a _Viniet_ in _Cardinel de Richlieu’s Greek +Testament_, printed at the _Louvre_, hindering his intended Addition +(_in armis_), which neither would have become the _impress_, nor stood +gracefully in the circle.”] + +In the British Mint false notions lead its authorities to believe that +apparent saving is real economy; so far from such being the case, if +our coins carried a better design they would not only look better, but +wear longer, and still maintain their weight. While it is my intention +to allude in another place to the large loss occasioned by our silver +coinage, I submit to the reader the facts arrived at by Mr. William +Miller, the late chief cashier in the Bank of England, who devoted +great attention to the rate of wear of coins. He found that coins which +had lost their protecting edges wear far more rapidly than those with +a protecting edge, and showed me tabular statements demonstrating that +fact. It was the intention of Mr. Miller to publish these tabulated +results. However, his painfully early removal has, I fear, prevented +that benefit being given to the public. His brother has no knowledge of +their having been published; but Mr. George Forbes, the chief cashier +in the Bank of England, has courteously given me a table closely +allied to those of which I speak, and another to which I shall refer +hereafter. I now, with permission, print this table, showing the rates +at which coins of the different reigns have worn, and which rates all +tend to prove clearly Mr. Miller’s opinion to have been correctly +formed. The fact of the increasing rate of wear would appear to be +explained by the larger surface exposed to friction by the removal of +the protecting edge. When a little later I come to the discussion, on +page 155, of the second table, I shall have occasion to say a few more +words on this, which seems to find a fitting place on the preceding +page, but contains matter which will cause too great a digression if +dwelt upon now. + +A STATEMENT SHOWING THE RESULTS OF SOME EXPERIMENTS MADE UPON A LARGE +NUMBER OF SILVER COINS, OF WHICH 169,000 WERE EXAMINED SINGLY, WITH THE +VIEW OF ASCERTAINING THE PRESENT CONDITION OF THE SILVER CIRCULATION, +AND THE LOSS BY WEAR. + +It should be observed that the average of loss by wear in a century, +given in the Table, is founded upon the wear which the several coinages +have undergone up to the present time; but as the rate at which a coin +wears is an increasing rate, it is obvious that the actual loss in a +century would be much greater than that here given:— + + +------------+-------------------------+------------+--------------+ + | | Amount Coined since | Withdrawn | Remaining in | + | | 1816. | from | Circulation. | + | | |Circulation.| | + +------------+------------+------------+------------+--------------+ + | | | £ | £ | £ | + | | Victoria | 117,414 | | 117,414 | + |CROWNS | William IV | | | | + | | George IV | 140,726 | | 140,726 | + | | George III | 321,750 | | 321,750 | + +------------+------------+------------+------------+--------------+ + | | Victoria | 1,043,251 | | 1,043,251 | + |HALF-CROWNS | William IV | 380,556 | | 380,556 | + | | George IV | 1,113,848 | | 1,113,848 | + | | George III | 2,387,088 | 252,870 | 2,134,218 | + +------------+------------+------------+------------+--------------+ + |FLORINS | Victoria | 1,541,161 | | 1,541,161 | + +------------+------------+------------+------------+--------------+ + | | Victoria | 2,609,504 | 490 | 2,609,014 | + |SHILLINGS | William IV | 412,038 | 49,944 | 362,094 | + | | George IV | 878,922 | 350,622 | 528,300 | + | | George III | 3,304,224 | 867,674 | 2,436,550 | + +------------+------------+------------+------------+--------------+ + | | Victoria | 1,182,339 | 298 | 1,182,041 | + |SIXPENCES | William IV | 281,994 | 34,614 | 247,380 | + | | George IV | 81,378 | 47,738 | 33,640 | + | | George III | 919,314 | 312,250 | 607,064 | + +------------+------------+------------+------------+--------------+ + | | £| 16,715,507 | 1,916,500 | 14,799,007 | + | | | | | | + | | | | | | + | | | | | | + | | | | | | + +------------+------------+------------+------------+--------------+ + + LEGEND: + (A) = Average of _Loss by_ wear in 100 _Years_, + at the rate at which the Coinages of the several reigns + have worn, up to the present time. + (B) = Loss by wear on Amount withdrawn. + (C) = Loss by wear on Amount in Circulation. + (D) = Number of Coins examined singly. + +------------+------------+---------+-------+---------+-------+ + | | | (A) | (B) | (C) | (D) | + | | | | | | | + | | | | | | | + +------------+------------+---------+-------+---------+-------+ + | | |Per Cent.| £ | £ | | + | | Victoria | 5·50 | | | | + |CROWNS | William IV | | | | | + | | George IV | 7·04 | | 15,776| 4,000| + | | George III | 7·46 | | | | + +------------+------------+---------+-------+---------+-------+ + | | Victoria | 14·17 | | | | + |HALF-CROWNS | William IV | 15·30 | | | | + | | George IV | 15·80 | 13,546| 250,270| 20,000| + | | George III | 15·92 | | | | + +------------+------------+---------+-------+---------+-------+ + |FLORINS | Victoria | 15·00 | | 10,147| 5,000| + +------------+------------+---------+-------+---------+-------+ + | | Victoria | 26·55 | | | | + |SHILLINGS | William IV | 26·82 | | | | + | | George IV | 28·74 |167,684| 413,044| 80,000| + | | George III | 29·96 | | | | + +------------+------------+---------+-------+---------+-------+ + | | Victoria | 37·00 | | | | + |SIXPENCES | William IV | 39·00 | | | | + | | George IV | 44·80 | 72,420| 221,380| 60,000| + | | George III | 45·00 | | | | + +------------+------------+---------+-------+---------+-------+ + | | | | | 910,617|169,000| + | | | |253,650| 253,650| | + | | | | +---------+ | + | | | | £|1,164,267 total | + | | | | | loss by wear. | + +------------+------------+---------+-------+-----------------+ + W. MILLER. + BANK OF ENGLAND, _December, 1860_. + +As further showing the rate of wear, I append a note which I have +copied from the eighth volume of the _Journal of the Society of Arts_, +written by Mr. John Miller, to whose courtesy I have often been +indebted, and who shows that the general rate of wear is rather higher +than would appear from the above facts, for his figures prove a loss +by wear to the extent of £4 11_s._ 8_d._ on a hundred sovereigns in a +hundred years, as will be seen in his letter which follows:— + + “BANK OF ENGLAND, GOLD WEIGHING ROOM, + “_29th August, 1859_. + + “SIR,—According to your wish I collected one hundred + sovereigns of the date one thousand eight hundred and twenty, + which, on weighing, I find have lost in value one pound six + shillings and sevenpence. + + “As these sovereigns were taken from parcels sent in from different + places, and at different times, during a long period, I think the + experiment is as likely to give a correct estimate of the loss + which the coin undergoes by wear as any that could be tried. + + “I have the honour to be, Sir, + “Your very obedient servant, + (Signed) “J. MILLER. + + “A. Latham, Esq., Deputy Governor.” + +That I may convey as accurate information as possible I also give the +following tables from the same volume of the Society of Arts. These +tables seem so clear as to render detailed explanation unnecessary. +It would appear that coins wear pretty much in proportion to the kind +of usage they receive; for Professor Jevons, in his pamphlet “On the +Condition of the Metallic Currency of the United Kingdom,” shows +indisputably that at the West End of London they suffer less than at +the East End, where they are thrown with force on rough and often sandy +benches while at the West they are treated with more consideration. + +RESULTS OF SOME CAREFUL EXAMINATIONS MADE IN 1858 OF LIGHT GOLD AND +SILVER COIN OF THE EARLY YEARS OF THE PRESENT SYSTEM OF COINAGE, 1817 +TO 1825, TAKING 1822 AS THE MEAN OF THOSE YEARS. + + LEGEND: + (A) = Mint Weight of each Coin. + (B) = Mint Weight of £100 worth. + (C) = Weight of £100 worth of old Coin. + (D) = Loss in 36 Years, 1822 as the Mean. + +---------------+---------+---------+---------+---------+ + | | (A) | (B) | (C) | (D) | + | | | | | | + +---------------+---------+---------+---------+---------+ + | | Ounces. | Ounces. | Ounces. | Ounces. | + |Sovereign | ·25682 | 25·682 | 25·360 | ·322 | + |Half-Sovereign | ·12841 | 25·682 | 25·070 | ·612 | + |Half-Crown | ·4545 | 363·636 | 345·850 | 17·786 | + |Shilling | ·1818 | 363·636 | 315·575 | 48·061 | + |Sixpence | ·0909 | 363·636 | 296·950 | 66·686 | + +---------------+---------+---------+---------+---------+ + +The above data applied to 100 years give the following results:— + + LEGEND: + (A) = Mint Weight of £100 worth. + (B) = Loss of Weight of £100 worth in a Century. + (C) = Loss of Value in a Century. + (D) = Loss of Weight of each piece in a Century. + (E) = Loss of Volume from 1,000 parts in a Century. + +----------------+---------+---------+--------+---------+---------+ + | | | | | | | + | | (A) | (B) | (C) | (D) | (E) | + | | | | | | | + +----------------+---------+---------+--------+---------+---------+ + | | Ounces. | Ounces. | £ m. | Ounces. | | + |Sovereigns | 25·682 | ·895 | 3·485 | ·00895 | 35· | + |Half-Sovereigns | 25·682 | 1·700 | 6·620 | ·00850 | 66· | + |Half-Crowns | 363·636 | 49·406 | 13·587 | ·06176 | 136· | + |Shillings | 363·636 | 133·503 | 36·713 | ·06675 | 367· | + |Sixpences | 363·636 | 185·239 | 50·941 | ·04631 | 509· | + +----------------+---------+---------+--------+---------+---------+ + (Signed) W. MILLER. + BANK OF ENGLAND, _8th October, 1859_. + +In this interesting table Mr. Miller curiously shows that the loss of +value and of volume bear equal relations to a coin, from which I infer +that he went so far as to measure determinately the amount of water +displaced by such coins as are referred to in these very valuable +researches; that he possessed a rigidly honest mind I know from +occurrences in my own dealings with him, and therefore I am sure his +figures are the results of actual experiment, and so, entirely reliable. + +These facts show that before it is determined to withdraw our coins +when they have reached the age of eighteen years, the Mint authorities +should produce coins with a more perfect protecting edge, as was done +at my suggestion for shillings and sixpences, and then by abolishing +the annealing of blanks give to our coins a medium hardness so that +they will be able to bear comparison with the Italian as regards wear +and tear, and retain a juvenile appearance after the exercise, instead +of their present smooth worn surface. + +The method of manufacturing the collar with the interior crenated +circle, which is employed to give the protecting edge to the finished +coin, is very simple:—A piece of flat, soft steel is bored with a hole +of the required diameter, and is fixed in a lathe so that it may be +made to revolve rapidly at pleasure. While the partly-formed collar +is revolving in the lathe, the slide-rest is made to place a kind of +cogged wheel, carried on a rod of steel, into the hole which has been +bored; by a screw in the slide-rest, the cogged wheel is brought down +until it touches the inside of the partly-formed collar; at the moment +of contact, the cogged wheel is turned round by the friction of the +collar against it, and its continued pressure upon the inside of the +collar causes the latter to receive an imprint from the cogged wheel. +When the imprinting is complete, the collar is hardened, and it is then +fit for use at the coining press. The system of manufacture is supposed +to be the most perfect; but it is manifest that no two collars are +produced of exactly the same internal diameter; hence the coin issuing +from each collar of the same denomination must, as it does, vary in +diameter; but this is of small consequence, the difference being so +minute that it is not detected unless by very accurate measurement; +indeed, coins coming from the same collar must vary in size, since +the collar wears away by use to a certain extent. The diameter and +consequent thickness of a coin are not determined by law, but by its +suitableness for the public to whom it is to be issued; consequently +the usual mode of arriving at the diameter of a coin is to make it of +such a size that it will emit the most musical sound it is capable of. +This rule was not sustained in the case of the small florin—better +known as the “godless florin;” hence, coupled with the omission of the +_Dei Gratia_[39] in its superscription, the coin fell into disfavour. + +The following measurements, taken from a set of proof coins of the +present reign, will convey an idea of the probable size of any coin +of the realm; but from the reason before stated, a man need not be +disappointed should he find the diameters differ from any he may +examine by an accurate gauge. While stating the diameters (which never +vary beyond a few thousandths of an inch), it is thought proper to give +the legal weight and legal tender[40] of each denomination of coin +current in Great Britain:— + +[Footnote 39: _Dei Gratia_ was also omitted on some of the coins of +George I.] + +[Footnote 40: 33rd Vict., c. 10, cl. 4.] + + +------------------------+-----------+-------------------+ + | Denomination of Coin. | Diameter. | Weight in Troy. | + +------------------------+-----------+----------+--------+ + | | Inches. | Grains. | Ounces.| + |Gold. Sovereign | 0·8680 | 123·2744 | 0·2568 | + | Half-Sovereign | 0·7622 | 61·6372 | 0·1284 | + +------------------------+-----------+-------------------+ + | Crown | 1·5048 | 436·3636 | 0·9090 | + | Half-Crown | 1·2714 | 218·1818 | 0·4545 | + | Florin | 1·1826 | 174·5454 | 0·3636 | + | Shilling | 0·9296 | 87·2727 | 0·1818 | + | Sixpence | 0·7648 | 43·6363 | 0·0909 | + |Silver. Fourpence | 0·6456 | 29·0909 | 0·0606 | + | Threepence | 0·6383 | 21·8181 | 0·4545 | + | _Maundy._ | | | | + | Fourpence | 0·6957 | 29·0909 | 0·0605 | + | Threepence | 0·6383 | 21·8181 | 0·4545 | + | Twopence | 0·5294 | 14·5454 | 0·0303 | + | Penny | 0·4388 | 7·2727 | 0·0151 | + +------------------------+-----------+-------------------+ + | Penny | 1·3502 | 291·6666 | 0·6076 | + |Copper. Halfpenny | 1·1155 | 145·8333 | 0·3038 | + | Farthing | 0·8575 | 72·9166 | 0·1519 | + | Half-Farthing | 0·6953 | 36·4583 | 0·0759 | + +------------------------+-----------+-------------------+ + | Penny | 1·2000 | 145·8333 | 0·3038 | + |Bronze. Halfpenny | 1·0000 | 87·5000 | 0·1822 | + | Farthing | 0·8000 | 43·7500 | 0·0911 | + +------------------------+-----------+----------+--------+ + + +------------------------+-------------------------------------+ + | Denomination of Coin. | Legal Tender. | + +------------------------+-------------------------------------+ + | | To the value of— | + |Gold. Sovereign | The highest sum | + | Half-Sovereign | known. | + +------------------------+-------------------------------------+ + | Crown | | + | Half-Crown | | + | Florin | | + | Shilling | | + | Sixpence | | + |Silver. Fourpence | Forty shillings | + | Threepence | sterling. | + | _Maundy._ | | + | Fourpence | | + | Threepence | | + | Twopence | | + | Penny | | + +------------------------+-------------------------------------+ + | Penny | One shilling sterlg. Proclaimed | + |Copper. Halfpenny | Sixpence ” illegal | + | Farthing | Sixpence ” since 31st | + | Half-Farthing | Sixpence ” December, 1869.| + +------------------------+-------------------------------------+ + | Penny | One shilling ” | + |Bronze. Halfpenny | One shilling ” | + | Farthing | One shilling ” | + +------------------------+-------------------------------------+ + +The press for coining is still defective: one of its defects is the +production of imperfect coins, of which Fig. 20 is a common type. It +is produced by the failure of the automaton hand to place the blank +exactly on the lower die, so that the collar, when it rises, fails to +enclose it; hence, when the upper die descends to strike the blank, +only that part of it which is over the die is impressed, the collar +being forced down by the pressure of the other part of the blank upon +its upper surface. On other occasions the automaton hand drops its +blank too early, or fails to bring it forward at all: on such occasions +it sometimes receives a severe pinch, and retires with an impression +produced on its end by the dies; and on either of these occurrences, +the dies may come forcibly together, and disfigure each other, so that +the next coin which is produced carries with it on each side a faint +impression of both dies as well as its proper impression. This could +never happen if the levers which carry the weights Z on the screw of +the press performed actually the whole of the functions for which they +are designed. A contrivance has been adapted to the coining presses +to stop their action should the automaton hand fail to bring forward +a blank for coining. This, after months spent in attempting its use, +is set aside because it increases the evil it was intended to remedy. +Fig. 21 is a representation of an imperfect half-crown which had been +submitted twice to the process of coining, and by oversight passed into +circulation in 1818. It had been current, and was taken in ordinary +change in July, 1861; it is much worn, but on each side may be clearly +traced the impressions of the obverse and of the reverse, singular +effects being produced where the crown of the reverse fits so neatly +on to the back of the head of his Majesty; and where, on the obverse, +the shield displaces his Majesty’s face. This could hardly have been +an accidental occurrence; it would seem that the workman of the press +must have struck the coin properly, and then taken some pains to fit it +into a larger collar and give it a second blow. If the collars were all +of precisely the same size such an act would be impossible; but there +are sufficient variations in the size of the collars to admit of this +explanation. Some accidental productions have been called by ignorant +writers _incused coins_, and conjectural histories of them have been +published; when, in fact, their history is simply this: it so chanced +that the coin last struck remained upon the upper die, and gave its +lower-side impression to the upper side of the next blank which was +coined. This is no uncommon occurrence, and the effect of it would be +that such a coin would have the same device on each side; but of course +one would present the design in relief and the other in intaglio. + +[Illustration: Fig. 20.—Brockage.] + +[Illustration: Fig. 21.—Brockage.] + +Such being some of the imperfections of Mr. Boulton’s coining press, +it may perhaps be assumed that they can be readily overcome; but I am +not aware of the existence of any press which is free from them. The +French press has, however, many advantages, and the Mint authorities +have recently had a new one made, from which extraordinary results +were anticipated, but it now appears that this is simply another +improvement of the usual type, and that it has cost about £1,500 and +remains on the premises of the manufacturers. + +As the coined money issues from the press it is collected in trays +and examined; all imperfect coins, curiously termed “brockages,” are +picked out; and the good coins weighed into drafts of 701 sovereigns, +equal in weight to about 180 ounces: these are at present sent to the +weighing room, where they are examined for imperfect coins by passing +over a kind of blanket, so arranged on a series of rollers that each +coin lying on its surface can be seen as the blanket revolves. The +blanket covered with coins is carried round a set of rollers, and thus +produces them on the upper side of a lower blanket, when the reverse +side can be seen. The effect of this machine is to worry the eye, if +constant watching be enforced, for no one can watch a string of coins +in continuous motion _and see each one_. A very minute alteration of +this machine would cause it to stop for a few seconds at intervals, and +during that stoppage the accustomed eye could readily detect and select +the imperfect coin. + +After this overlooking, the coins are rung as blanks used to be, and +then weighed separately, _all_ the rejected going to the melting-pot, +by which a waste[41] of 50 per cent. is incurred at the extreme end of +an elaborate process; but this unwise course, it is to be hoped, will +soon be abandoned when its expensive and perfectly useless extravagance +is considered. After the various operations of the weighing room the +coin is collected and weighed into separate bags, each containing 701 +sovereigns; the exact weight of the contents of each bag is noted; +and, the bags having been placed in a truck, are taken to the Mint +Office, where they undergo what is called _pyxing_, which is simply the +selecting from each and every bag a pound weight, from which two coins +are taken; each coin is weighed and its weight recorded. Of these coins +one is placed in the hands of the assayer to determine its value as +to per-centage of gold, and the other is sealed in a packet, which is +placed in a _pyx_ for the trial of THE PYX at Westminster—an ancient +process now useless, because any skilled man can detect by assay a +deterioration of the coin. These particulars having been taken, the +coin is in due course delivered to the officers of the Bank of England, +who conduct it in amounts of about £140,000 to the Bank in a waggon. + +The law enacts that 20 lbs. weight troy of standard or crown gold shall +be made into 934·50 sovereigns, and this proportion gives the means of +determining the theoretical weight of one sovereign; for if the 20 lbs. +troy weight produce 934·50[42] coins, it is only necessary to divide by +that number the number of grains in 20 lbs. troy, and the quotient will +represent the weight of a single sovereign, viz., 123·2744783306581059 +troy grains; therefore the journey of 701 sovereigns should weigh +180·032102728731942215 troy ounces, and a million 256821·829855377 +troy ounces, equal to 7·8618927506797 tons avoirdupois; hence the War +Indemnity of France will weigh 1572·37855 tons. + +[Footnote 41: See pages 42-45, 108, 109.] + +[Footnote 42: See pages 73, 123, 124.] + +Since the coins of a people must represent food in proportion as they +are of specific weight, it is to be regretted that the law does not +fix the weight (with a remedy) of the individual sovereign, instead of +fixing the number of coins in 20 lbs. weight, and giving a remedy[43] +of 12 grains on the pound troy. Irrespective of law, the practice of +the Royal Mint is to apportion the estimated amount of remedy (or +latitude for error) to each coin; but in America the pound weight alone +is studied; hence the individual coins vary so considerably in weight +that it pays as a commercial speculation to select the heavy coins, and +to sell them as bullion; thus leaving the light coins in circulation, +to the dishonour of the nation, because if a man take 1,000 American +gold coins to the Bank of England they will not be received at their +nominal value, but as bullion; hence the loss becomes personal, and so +the coins of America cannot, and do not, stand on a par with those of +England. + +[Footnote 43: See pages 39, 73, 124.] + +The paragraph above has stood unaltered since the first edition, and I +reproduce it because its history is perhaps curious. Mr. Graham, soon +after I entered the Mint, commenced urging reasons why the system of +weighing coins individually, which he considered expensive, should be +abandoned; as well as I was able I met his proposition by firm but +adverse arguments, until at last he “ordered me to omit the weighing +of individual pieces, and to _pound the work_ as is directed by law.” +I therefore asked him, as the matter was a very grave one, to _write +the order_. This he refused to do, and thought it hard of me to require +a written order, and so the matter dropped; when, however, Mr. John +Graham was appointed, Mr. Graham told me that he could now carry out +his wishes without a “written order.” In the meantime he had asked me +“to write a treatise on coining for Tomlinson’s Cyclopædia—in fact, +I have already referred Mr. Tomlinson to you, and he will call; your +difficulty will be to compress your information into a sufficiently +small space.” After so long an attempt to preserve the accuracy of our +coinage, I felt unwilling to allow such an opportunity to pass, and +therefore placed my opinions in print, and thereby gave Mr. Graham so +deep an offence that he refused to place my book in the Mint library, +although I gave him a copy for that purpose; it was still absent from +those shelves when I left the Mint. In August, 1864, Mr. John Graham, +acting under the “Master’s orders,” directed “that the contents of only +one bag in three should be weighed,” and this was carried out till +pieces which bore the device of florins found their way to the Bank of +England, and amongst them were found some of the intrinsic value of +1_s._ 6_d._, while others reached so high as 2_s._ 9_d._ Mr. Graham was +greatly distressed about this occurrence, and, notwithstanding his +brother’s position, directed me to stop this new system at once. He +then attributed the innovation to myself, and blamed me for all that +had happened. I therefore told him that he, and he alone, was to blame, +for I had persistently refused to do it unless fortified with a written +order. This caused, as I felt at the time, our final separation; but +had I been willing to accept blame which belonged, as I told him, to +himself first, and in a lesser degree to his brother, he would have +made it a fair ground for my removal from the Mint—a result he had +earnestly endeavoured to effect. I was so far free from blame that I +was actually absent from the Mint part of the time, and during the +remainder refused to enter the room where the blanks were cut, such +action on my part resulting from a desire to protest firmly, by deed as +I had done by word, against what I knew to be a fatal step. The wisdom +of my proposition to apportion the remedy to the individual piece +was so apparent that the Legislature incorporated it in the Act 33 +Victoria, cap. 10, and as detailed information may be of special value +to many, I quote the first schedule to that Act on the opposite page. + +That others concur in my thus claiming the origination of the +apportionment of the remedy to the individual piece, is, I think, +clearly demonstrated by the subjoined letter, which appeared in the +Money Market and City Intelligence of the _Times_, on Thursday, March +10, 1870. + +“The following relates to the coinage question:— + + “_March 8th._ + + “SIR,—In your article of this day you draw attention to + Mr. Ansell’s new work, ‘The Royal Mint,’ which I have studied + carefully. I shall feel obliged if you will permit me, through you, + to direct the attention of members of Parliament to the suggestion + thrown out by Mr. Ansell in his ‘Treatise on Coining’ in 1862, and + repeated in the book above alluded to. + + “In the New Coinage Bill, which is to be discussed on the 10th inst., + the Chancellor of the Exchequer would appear to have adopted in part + the proposal of Mr. Ansell, to make the remedy on the individual + coin, instead of on the pound weight of coins, as is now the law. + Mr. Ansell gives very strong reasons, besides the expense, why + 0·2568 grain should be enforced as the legal remedy on the + individual coin, and surely, while the legislature is invited by + Mr. Lowe to adopt 0·20 grain, it would be wise that those reasons + should be considered, for the Act, once obtained, will be difficult + to repeal, and the Mint seems capable of improvement. + “I am, Sir, your obedient servant, + “NUMMORUM FAMULUS.” + +I may add that Mr. Fremantle has purchased a copy of my last impression +for the Mint Library. + +The coinage of silver is precisely the same in every detail as the +coinage of gold; but there are one or two points that require to be +dwelt upon. Weight for weight, silver is more bulky than gold, and is +coined in larger quantities; hence it has become important to expedite +its coining by every means. Thus, in the process of annealing, it is +simply placed unprotected, except by a lid of iron, upon an iron truck, +and run into the annealing furnaces, from which, after twenty minutes, +it is withdrawn and plunged at once into cold water. In the annealing +of the silver blanks it is important to have the copper of the alloyed +metal removed from their surface; this is effected by annealing the +blanks for from seven to ten minutes in open pans, when the copper +becomes oxidised, and is removed by the process of blanching, described +under the coining of gold.[44] + +[Footnote 44: See pages 48, 49.] + + FIRST SCHEDULE. + + +--------------------+----------------------+----------------------+ + | | Standard Weight. | Least Current Weight.| + | Denomination of +-----------+----------+-----------+----------+ + | Coin. | Imperial | Metric | Imperial | Metric | + | | Weight. | Weight. | Weight. | Weight.| + | | Grains. | Grams. | Grains. | Grams. | + +--------------------+-----------+----------+-----------+----------+ + |Gold: | | | | | + | Five Pound | 616·37239 | 39·94028 | 612·50000 | 39·68935 | + | Two Pound | 246·54895 | 15·97611 | 245·00000 | 5·87574 | + | Sovereign | 123·27447 | 7·98805 | 122·50000 | 7·93787 | + | Half-Sovereign | 61·63723 | 3·99402 | 61·12500 | 3·96083 | + | | | | | | + +--------------------+-----------+----------+-----------+----------+ + |Silver: | | | | | + | Crown | 436·36363 | 28·27590 | — | — | + | Half-Crown | 218·18181 | 14·13795 | — | — | + | Florin | 174·54545 | 11·31036 | — | — | + | Shilling | 87·27272 | 5·65518 | — | — | + | Sixpence | 43·63636 | 2·82759 | — | — | + | Groat or Fourpence| 29·09090 | 1·88506 | — | — | + | Threepence | 21·81818 | 1·41379 | — | — | + | Twopence | 14·54545 | 0·94253 | — | — | + | Penny | 7·27272 | 0·47126 | — | — | + +--------------------+-----------+----------+-----------+----------+ + |Bronze: | | | | | + | Penny | 145·83333 | 9·44984 | — | — | + | Halfpenny | 87·50000 | 5·66990 | — | — | + | Farthing | 43·75000 | 2·83495 | — | — | + +--------------------+-----------+----------+-----------+----------+ + + +--------------------+----------------+----------------------------+ + | | | Remedy Allowance. | + | Denomination of | +-----------------+----------+ + | Coin. | Standard |Weight per piece.|Millesimal| + | | Fineness. +--------+--------+Fineness. | + | | |Imperial| Metric | | + | | | Grains.| Grams.| | + +--------------------+----------------+--------+--------+----------+ + |Gold: | | | | | + | Five Pound | Eleven-twelfths| 1·00000| 0·06479| | + | Two Pound | fine gold, | 0·40000| 0·02592| 0·002 | + | Sovereign | one-twelfth | 0·20000| 0·01296| | + | Half-Sovereign | alloy; | 0·10000| 0·00648| | + | | or millesimal | | | | + | |fineness 916·66.| | | | + +--------------------+----------------+--------+--------+----------+ + |Silver: | | | | | + | Crown | | 1·81818| 0·11781| | + | Half-Crown | | 0·90909| 0·05890| | + | Florin | Thirty-seven | 0·72727| 0·04712| | + | Shilling | fortieths fine| 0·36363| 0·02356| | + | Sixpence | silver, | 0·18181| 0·01178| 0·004 | + | Groat or Fourpence| three-fortieths| 0·12121| 0·00785| | + | Threepence | alloy; or | 0·09090| 0·00589| | + | Twopence | millesimal | 0·06060| 0·00392| | + | Penny | fineness 925·| 0·03030| 0·00196| | + +--------------------+----------------+--------+--------+----------+ + |Bronze: | | | | | + | Penny | Mixed metal, | 2·91666| 0·18899| | + | Halfpenny | copper, tin, | 1·75000| 0·11339| None. | + | Farthing | and zinc. | 0·87500| 0·05669| | + +--------------------+----------------+--------+--------+----------+ + + The weight and fineness of the coins specified in this + Schedule are according to what is provided by the + Act fifty-six George III., chapter sixty-eight, that + the gold coin of the United Kingdom of Great Britain + and Ireland should hold such weight and fineness as + were prescribed in the then existing Mint indenture + (that is to say), that there should be nine hundred + and thirty-four sovereigns and one ten-shilling piece + contained in twenty pounds weight troy of standard + gold, of the fineness at the trial of the same of + twenty-two carats fine gold and two carats of alloy in + the pound weight troy; and further, as regards silver + coin, that there should be sixty-six shillings in + every pound troy of standard silver of the fineness + of eleven ounces two pennyweights of fine silver and + eighteen pennyweights of alloy in every pound weight + troy. + +In annealing the precious metals, it is intended to use large retorts +of Stourbridge clay instead of the naked flame, as is the present +practice. The advantage of using retorts will be the protection +they will afford to the substances to be annealed, and the uniform +temperature at which they may be kept for any required time. So great +are the obstacles to improvement in the British Mint, that, although +this suggestion was made by me, and plans were prepared, in June, +1861, the necessary alterations have not yet been attempted; indeed, +it has been reserved to Mr. P. F. Comber, the intelligent chief coiner +of the New Mint in Melbourne, to adopt this suggestion. The furnace +for his use has been made by Messrs. Deane, of Arthur Street East, +London Bridge, who, from experience, know this kind of furnace to be +successful; indeed, it has been long used to gain higher temperatures +than are required for metals in the annealing of glass, pottery, &c. +I have recently been permitted to make a long series of experiments +at the works of the Patent Fuel Company, on their wharf at Deptford, +and these have convinced me that their mode of converting hydrocarbons +into vapour, and burning that vapour with a proper supply of air under +pressure, could be applied in the Mint with great advantage to the +heating of the annealing furnaces, especially if the authorities of +that department should adopt the retorts proposed. + +In my previous editions I have suggested the use of these retorts, +and I am glad to see that the Royal Mint is likely to adopt them, for +Mr. Napier recommends them in his Report, and Mr. Roberts not only +coincides in that recommendation, but specifically says, “It is a +question for consideration whether muffles of clay instead of iron, and +gas as fuel, might not be used with advantage.” + +The coinage of bronze is somewhat new; that is to say, it has, after +centuries, been re-introduced; and as little is known respecting it, it +will be well to consider one or two circumstances connected therewith. +The dimensions of the bars are previously given,[45] those measurements +were determined by me after much troublesome experimenting, and +the bars are found to be capable of producing the best blanks, as +regards equality of weight one for another, with the least labour. +In the rolling of bronze there are some singular facts to be noted; +for instance, the finding the same metal at one time ductile, and at +another absolutely brittle; yet if the bronze has been properly melted, +with due precaution to avoid the access of atmospheric oxygen, it is +uniformly malleable and ductile, and may be rolled from such bars as +described without once annealing. It is sometimes preferred not to use +the knowledge gained, and then complications commence. The following +mode of operating will meet all cases:—The bars may be rolled down to +half their thickness, and then will anneal perfectly well in an open +furnace on an iron truck. The heating should be conducted rapidly, +and when the fillets get to a full red heat they should be withdrawn, +thrown out singly on the floor, and allowed to remain till perfectly +cold. Should any bars be annealed in the rough state, they must be kept +away from water. A little water thrown upon the end of a bar when red +hot causes it to become rotten throughout, and on submission to any +pressure it will fall to pieces as would gingerbread; yet if the bars +be partly rolled to a certain proportion of their thickness, they may +be plunged at once into cold water without damaging them for work. +After annealing, the fillets should be blanched in diluted sulphuric +acid, containing one per cent. of the ordinary commercial acid. It is +well to save time by blanching two or three tons at a time; but a few +minutes effect all that is required—that is, the separation of the +film of oxide from the surface. The film is then removed by a mop made +of rag or cotton waste, and with little labour a few boys may clean +many tons in a day. Fillets which have been blanched before being +rolled produce clean and bright blanks. The blanks require somewhat +different treatment. It is better to anneal them in copper tubes. The +bottom of the tube should be covered to about the depth of an inch +with charcoal dust, then the tube filled with blanks, except allowing +for another layer of coarse charcoal dust, and the top put on to the +tube. The annealing should not occupy more than thirty-six minutes; +the highest temperature should be that at which the tube looks a full +reddish white, and this should be gained as rapidly as possible. The +tube, after removal from the furnace, should be allowed to remain at +rest till perfectly cold. The charcoal is intended to combine with the +oxygen, which would otherwise combine with the metals of the bronze +during the heating and the cooling of the blanks in the copper tubes. +Having regard to the production of perfect coins, the blanks should be +cooled in an atmosphere of ordinary coal gas, by which every particle +of oxygen is prevented from access, and a great part of the oxides +already existing in the alloy reduced by the combination of their +oxygen with the hydrogen of the coal gas, thus leaving the blanks +somewhat porous, and comparatively soft, so that, when coined, the +metal wholly fills the work on the dies, and the coin is produced with +a good protecting edge. Bronze as used at the Royal Mint consisting of +95 of copper, 4 tin, and 1 zinc in 100 parts—zinc should be omitted +because it causes useless labour—may be coined to great perfection +if the blanks be cooled in coal gas after annealing: whereas bronze +of a far softer nature cannot be made to fill the work of the dies +satisfactorily by any other method yet known, unless the engraving +on the dies be very shallow. The bronze coins, which have replaced +the old copper money, have what is considered to be an innovation in +the inscription by the repetition of the T in the abbreviation of +Britanniarum, which is simply the classical mode of expressing in an +abbreviated form the number of the possessions which together form +Great Britain; it is equivalent to MS., which is the abbreviation for +manuscript, while MSS. represents the word manuscripts; so BRITT. +represents the cluster of islands or possessions called Great Britain. +The objection to BRITT., on the ground of its being an innovation, is +singular, as this word occurs on the shillings of George III., coined +in 1816. It is also curious that the original dies for the bronze +coinage were made to carry BRIT. only, until a coin found its way +into the hands of the Right Hon. W. E. Gladstone, who at once pointed +out the error, and thus caused the re-introduction of the classical +BRITT. Mr. Gladstone also suggested the issue of octagonal bronze +coins, which undoubtedly would have been a mistake had it been adopted. +Perhaps it may not be uninteresting to record that the pattern penny in +bronze, which was submitted to and approved by her Majesty, was lost +in its passage through the post, for the postman opened the letter and +destroyed both it and the penny in a closet in the Royal Mint. Copper +and bronze money are merely tokens; it is therefore well to reduce such +tokens to as low a weight as is consistent with the rigidity of the +coin. + +[Footnote 45: See page 9.] + +By Royal Proclamation, dated at Windsor, 13th of May, 1869, the +old copper moneys are declared illegal; or, in the words of the +proclamation, “No copper moneys whatsoever (other than and except +such bronze moneys as are now current by virtue of our proclamation +bearing date the 17th day of December, 1860, or any proclamation dated +subsequently to the said 17th day of December, 1860) shall be allowed +to pass or be current in any payment whatsoever within the kingdom of +Great Britain and Ireland after the 31st of December, 1869.” So that +since that date no copper moneys have been legally paid away. This, +however, will not affect those who wish to preserve copper coins of +this or former reigns as specimens. + +As dies are the means by which metal becomes COIN, it will be material +to add the processes of their manufacture. Experience alone can +indicate the proper steel to be used, so that it is useless to attempt +a description. But the form of the steel is a matter upon which +die-makers differ. Some use square bars of that metal, and cut off +pieces, which are forged into the proper form for dies; however, the +more experienced die-makers use round bars of steel, which are cut by a +tool somewhat of the shape of the bar, so that when the tool is struck +every part of its edge begins to cut. The tool is so shaped as to leave +the end of the bar from which the piece has been cut quite square, so +that it may form the bottom for the next piece cut off. The piece of +steel thus cut off is taken to a lathe, where its upper end is turned +somewhat into the form of the top of a sugar-loaf; the depth of this +form being determined by the style of work to be impressed upon the +steel when it is to be formed into a die. For the original matrix the +piece of steel is turned to a flat end, and is usually strengthened by +driving a carefully-welded ring of hot iron on to it: although some +prefer thus to simply shrink on a ring of iron, the more experienced +choose welding, because that which is shrunk on is never so solid, +and is apt to enclose air bubbles, which prevent the mass becoming +one, thus permitting an undue yield in a faulty spot when pressure is +applied. In the making of a matrix, the steel is softened to different +extents by different engravers, but all soften more or less. The steel +having been softened, the engraver cuts with a kind of hand chisel, +by a motion of the wrist, such design as may be required, and after +many months of work produces a finished matrix, from which he requires +to produce many copies, because this one matrix would itself soon +wear out, and by frequent use would be more exposed to risk. It is, +therefore, hardened to admit of its being submitted to such pressure +from another piece of steel as to impart its design to that steel +without itself being distorted by the pressure. For this purpose the +matrix is fitted with a ring of iron round its upper part, which, when +fitted on, gives the engraved part the appearance of being the bottom +of a cup; this cup is filled with a paste made of beer grounds and +fine charcoal dust, or, better still, with that small charcoal which +is found behind the flue of the forge—a kind of soot produced by the +spent sparks which fly upwards, and which is so much in request by the +file-makers. Thus protected, the matrix should be placed in the naked +fire wholly enclosed with fuel, and heated as rapidly as possible, +keeping it constantly turned round and round, so as to insure each +particle of its mass being equally heated; a quarter of an hour should +be long enough to produce the necessary temperature. It must be borne +in mind that the great principle is to avoid the decarbonisation of +the steel, therefore the less time that is occupied the better. The +temperature of the matrix should be that rich and peculiar full red +which for a few seconds is visible before white heat supervenes, for +a white heat once gained causes the steel to scale off, and renders +the matrix partially worthless. This peculiar temperature once gained, +the matrix must be permitted to remain for three minutes in the fire +without any blast. If it should get too hot it must be cooled by adding +exhausted fuel from the hearth. At the end of three minutes’ quiescent +heating it may be assumed that the centre of the matrix has become of +the same temperature as its outer particles; it is then taken quickly +from the furnace and placed in a kind of colander, so that water may +wholly envelope it, and yet flow freely past it while its under surface +is wholly exposed. The matrix C is placed in the colander D, Fig. +22, bottom upwards, and is then brought immediately under the pipe +dependent from a kind of funnel A, which should hold at least a hundred +gallons of cold water; the bottom of the pipe must be secured by a plug +of wood B, capable of being knocked out instantaneously. This is the +most important process in the hardening of the matrix, and requires +considerable steadiness with great rapidity of motion. The matrix +being held in the colander about half an inch above a large surface +of water E, and immediately under the centre of the plugged pipe from +the funnel, the plug B is knocked out from the pipe, and the water +falls in a continuous stream wholly unbroken until striking the very +centre of the base of the matrix, thus securing the commencement of the +process of hardening FROM THE CENTRE. So soon as this first shock of +the flowing water has been effected, the matrix must be sunk into the +vessel of water below, until it is uniformly covered to the depth of +half an inch, and must be held there until the whole of the water from +the funnel has run out; then the matrix must be sunk to the bottom of +the vessel of water, and allowed to remain till absolutely cold. If it +be removed before it be cooled throughout, there is great danger of a +crack on its surface being produced by the expansion from within. The +plug is preferred to a tap in the pipe from which the water is to flow, +because the turning of a tap gives a motion to the water, which causes +it to fall in a hollow stream, and thus obviates the very effect which +it is desired to produce. This process has been followed for more than +thirty years, and during that time the manufacturer who uses it—one of +the most eminent engravers and die-makers in Europe—has never met with +any accident, nor has he found any failure. I have recently visited a +manufactory in South Yorkshire in which many thousands of dies are made +annually on this system, without an instance of failure. Die-makers, +after the hardening, proceed as follows:—Remove the paste of charcoal +from the face of the matrix, and then clean the face of the die with +hydrochloric acid. After this it is tempered—that is to say, it is +raised to a temperature which somewhat relaxes the rigidity of its +particles; this is commonly judged of by the COLOUR which the face of +the matrix assumes; but since no two men are likely to distinguish the +same tint, nor can any one actually judge of colour unerringly, it is +wise to adopt another standard, the one most preferred being to temper +the matrix until the engraver can make a good graver _bite_ while the +die is hot. The tempered die may be cooled by plunging it either into +oil or into water as soon as the tempering has reached the desired +point. If at this instant the tempering cease, when the die is dead +cold the graver will no longer touch the steel, which is now just so +hard as to resist a blow without fracture. It is next polished, and is +then fit for use; that is to say, is fit for the multiplication of dies +from itself. + +[Illustration: Fig. 22.—Die Hardening.] + +The multiplication consists in the taking a set of punches, each +being an exact copy of the matrix. The steel, having been formed +into masses with sugar-loaf tops in accordance with the depth of the +engraving, is ready to receive the impression from the matrix, just +as hot sealing-wax is ready to receive the impression from a signet. +The matrix is placed beneath a press, and on its face is placed the +sugar-loaf end of the annealed mass of steel; a very light blow is +given by the press, so as to obtain simply the sinking of the first +portion of the cone, for if a violent blow be given at this stage it is +manifest that a large mass of steel is forced into a smaller space; in +other words, the particles of steel which formed the cone are pressed +into a dense mass on the surface of the intended punch, and prepare a +crack, which by-and-by developes itself. After this light blow, the +partly-formed punch is placed in a covered pot filled with charcoal, +and heated in a furnace just as was described for the hardening of +the matrix, bearing in mind that it is the cooling, not the heating, +which softens the steel. So soon as the heating has been raised to the +point before indicated, the pot containing the punch is removed, and +bedded in hot ashes, and there left to cool as slowly as possible; it +should be forty hours before it becomes cold. When cold it is cleaned, +receives a second very light blow under the press, examined, afterwards +receiving a third very light blow, and is then a second time annealed, +&c. The number of blows required to bring out to perfection on the +punch the work on the matrix, depends entirely upon the size of the +matrix and the depth of the work engraved upon it. For these reasons, +no accurate instructions can be given; but for all cases light blows +should be made, because all metals mould more readily under gentle +treatment. + +From the punch is obtained, by processes which should be in every way +similar, a series of dies for the use of the coining press. Each die +from the punch is examined, and has the figures for the date impressed +upon it before it is hardened. The dies are of two kinds: one, C, the +obverse, with a long neck, upon which the collar B fits freely, and a +second, the reverse, with a short neck, so that the face of the die +just enters the collar sufficiently to meet and compress the blank. +Fig. 23 demonstrates these two dies, and exhibits the collar, showing +at B the milled interior circle, which gives the crenated edge to the +finished coin at its formation. For the past few years the reverse die +has been made to carry, in addition to its recognised device, a small +number, with a view to determine at which coining press, and on what +particular day, that die was used, that bad work might be traced to an +individual. It need hardly be said that the accidents encountered in +daily work overcome the object thus sought, for a die may last either +minutes or days in wear owing to the irregularities of the steel from +which it is made, and besides, the boys who work the presses are of +necessity changed at irregular intervals. + +[Illustration: Fig. 23.—Coining Dies and Collar.] + +The long-necked die is fitted into a bolster D, as shown in Fig. 23, +and is prevented from shifting its position in that bolster by a plug +of iron indicated at E. The bolster, with its die, is secured in a kind +of dish beneath the screw of the press by a series of screws, which +admit of adjusting the bolster so that the die it carries shall be +placed immediately beneath the upper die, which is carried on the main +screw G of the press, as may be seen at page 60. + +There is little doubt but that certain stages of die manufacture +would be rendered more effective if more reasonable treatment were +employed. It has yet to be demonstrated that carbon steel is the best +metal that can be employed, for it seems more than probable that some +alloys would render a metal which would possess within itself more of +the properties which are necessary for the perfecting a die, and for +its duration when in use. For the elimination of such an alloy we must +await the time when the non-resident assayers are replaced by resident +chemists who, during the leisure times in the Mint, will be willing +and glad to experiment on some of the compounds of iron with the rarer +metals, for in that field will surely be found a combination which +will be definite, and therefore homogeneous and unvarying. There can +be no doubt that the cause of the uncertainty which prevails as to the +endurance of steel for dies arises from its unequal composition. + +Gold possesses as many colours, and exists in as many conditions, +as any substance ordinarily met with. Those various changes are due +to the existence of impurities in the metal, which are neglected in +assaying, because the only business of the assayer is to determine +that the sovereign actually contains the lawful weight of pure gold, +and also so much alloy as is specified: what this alloy shall be is, +in the abstract, a small matter so that it is not silver, because +if it be silver it is worth the expense to separate it, and thereby +destroy the coinage. Yet, although the existence of such metals as +lead, bismuth, tin, antimony, and arsenic, as well as palladium and +osmium-iridium is not illegal, it becomes necessary to separate them, +because these metals affect the coin in various ways. Palladium and +platinum alloy with the gold only after considerable time, therefore +these metals may generally be seen in the finished coin, frequently as +a slight bar across its surface, sometimes as spots on its crenated +edge. Osmium-iridium causes trouble, inasmuch as it is so infusible, +that it simply floats about in the melted gold, and several crystals +agglomerate; where this takes place, the difficulty of manufacture is +so great, that it is impossible to produce the desired amount of coin +within the limits of remedy as to weight. The simplest means for the +removal of these substances is to allow the fused metal to remain for a +considerable time, when they settle to the bottom, and the clear metal +can be poured off; the dregs, if so they may be called, are then sent +to the refiner, but the process of separation is too long, and hardly +adapted for a description in this place. + +As a practical matter, the other, or volatile metals, and lead, may be, +and generally are, removed by means of corrosive sublimate. This is an +expensive measure, and does not answer its intention, for some of the +mercury combines with the gold and renders it brittle. In practice, the +best process is that recommended by Mr. Warington, who proposed to add +to gold found to contain tin, antimony, or arsenic, 10 per cent. of +oxide of copper. The gold is fused in a Payen crucible, and the oxide +of copper is then added and stirred into the gold by a rod made of the +same substance as the crucible. This operation is easy of performance, +because the infusible oxide of copper stirs up with the gold readily, +and each particle of antimony, arsenic, or tin, as it comes into +contact with the oxide of copper, reduces it to the metallic state, +the volatile metals combining with the oxygen, while an equivalent of +copper alloys itself with the gold. The impurities, as they oxidise, +mix or combine with the oxide of copper. One or two experiments tell +how much copper is thus added to the gold; consequently, how much fine +gold is to be added to keep the alloy standard—and subsequent treatment +by the oxide of copper simply removes the volatile metals. Gold treated +by this process is perfectly workable on a large scale, and there is +no trouble. A condition of success is, that no reducing agent, such +as carbon, be present, and therefore plumbago pots cannot be used. In +practice, half an hour is the best time to keep the metal in contact +with the oxide of copper. The objection is frequently expressed, that +to refine gold is not the business of the coiners. This opinion, +however, will bear modification, for the expense of the oxide of copper +is trifling as compared with the cost of labour in treating brittle +gold. + +I now advert to a most important matter in relation to coining, viz., +that of the loss sustained, its cause, and prevention. + +It appears that the Royal Mint should sustain less loss than any other +mint by the coining of gold and silver. If allowance be made for the +sale of the sweep or dust[46] which results from a coinage, the total +loss, inclusive of every operation in coining, should be so small that +it might be passed without notice; in fact, there ought to be a minute +increase of weight from traces of oil which are left on the fillets to +enable them to pass through the cylinders of the draw-bench;[47] by +melting[48] there seems to be too great a loss of metal: this should +reach about £100 per million coined, and such loss would be wholly +explained by the refining, which takes place through the removal of +copper by oxidation; although this is minute, still it is enough to +explain the loss which I indicate. If the assays be closely watched +there can be no loss, for the trial of the pyx invariably shows the +gold coin to err on the side of purity, so that if the Master of the +Mint should determine to issue gold of exact standard, and refuse to +avail himself of the latitude allowed, he may fairly cover every source +of loss, and coin money WITHOUT WASTE OF METAL. Each grain that is +found in excess of the standard upon the pound weight of gold causes +a loss of about £180 upon each million coined. The moneyers asserted +that they sustained a loss of £700 for each million coined, such loss +being exclusive of melting. This has never been believed to have been +a truthful statement, nor has the loss by coining alone often reached +so high an amount, although so large a sum as £373 per million would +seem to have been determined, by some careful experimenters, as the +necessary loss. Where the gold went to was not stated; but supposing +such a loss to accrue, it is manifest that either the gold volatilised +or the floors must be paved to many inches in thickness with gold, +but it is an established fact that matter once existent cannot be +annihilated; yet it has required many arguments to convince those most +interested in coining that the mere cutting up of bullion into small +pieces does not alter its actual weight: the present Mint Authorities +entertain the fallacious notion that large loss of gold is, for +metallurgical reasons, NECESSARY. Notwithstanding Mr. Graham’s opinion +that a loss of £206 on a million _was too high_,[49] they in their +“Reports on European Mints” have arrived at the conclusion “that the +‘waste’ shown to have existed of late years in the English Mint _has +not been excessive_.” + +[Footnote 46: See pages 86-88, 140.] + +[Footnote 47: See pages 29, 32-33.] + +[Footnote 48: See pages 98-99.] + +[Footnote 49: See page 178.] + +To leave, then, the realms of speculation, and for a short time to +examine figures, a matter which is little understood will be reduced +to one of easy comprehension. Mr. W. T. Brande, in connection with +others, carried on a series of experiments between 1851 and 1856, the +results of which he gave me in writing, and which induced him to arrive +at the conclusion that by coining alone there was a loss varying from +1·20 grains on the pound, to 3·10 grains on the pound troy, or a mean +of 2·15 grains on each pound troy coined. This loss was thought to be +a necessary consequence of coining, and by a simple rule-of-three it +tells as follows:— + + A loss of 1·20 grains on the lb. = £208·33 on each £1,000,000. + ” 3·10 ” ” = £538·18 ” £1,000,000. + Mean loss 2·15 ” ” = £373·26 ” £1,000,000. + +Mr. Brande and his colleagues, by his own admission, did not know the +value of the sweep recovered, therefore this loss was believed to be +absolute. We will next examine the accounts and see the fruit of that +belief, and then determine the effect of a contrary faith. And in the +following statements, given in a tabular form, I would observe that +the facts recorded were compiled by the Mint officials for the Master +at my suggestion, and that copies were given to me by the late Master, +who indeed invariably, when such statements were prepared, handed them +to me to copy and examine for my own information, and to see that they +were accurate. + +It is a fact that the Mint books do not record the loss upon the gold +coined in November and December, 1851; or, if they do, these accounts +have been only quite recently balanced. In the following statement I +omit the coin of those two quarters, because the late Deputy Master +assured me that the accounts were not made up. This, I am aware, lays +me open to a correction; I therefore state that the coined money of +these two months is not included in my calculations. + +STATEMENT SHOWING THE RATE OF COIN OBTAINED AND THE LOSS OF METAL +INCURRED IN EACH QUARTER FROM MARCH, 1852, TO DECEMBER, 1857. + + (A) = Proportional Loss of Metal on each Million Ounces Coined. + +------------------+---------------+-----------------+---------+ + | |Total Amount of| Rate per Centum | | + |Quarter ending:— | Gold Coined | of Coin obtained| (A) | + | | per Quarter. | from Rough Bars.| | + +------------------+---------------+-----------------+---------+ + | | Ounces. | Ounces. | Ounces. | + |March 31st, 1852 | 300260·201 | | 446·94 | + |June 30th, ” | 501032·558 | | 399·17 | + |Sept. 30th, ” | 615753·337 | | 500·50 | + |Dec. 31st, ” | 828159·837 | 50·51 | 639·37 | + |March 31st, 1853 | 1113414·454 | 47·28 | 691·60 | + |June 30th, ” | 1223454·550 | 49·40 | 472·34 | + |Sept. 30th, ” | 248434·554 | 39·34 | 1130·64 | + |Dec. 31st, ” | 484331·447 | 42·81 | 784·42 | + |March 31st, 1854 | 769791·029 | 54·21 | 730·61 | + |June 30th, ” | 101611·604 | 49·65 | 787·21 | + |Dec. 31st, ” | 194968·684 | 47·76 | 583·07 | + |March 31st, 1855 | 515639·229 | 47·42 | 447·05 | + |June 30th, ” | 501708·378 | 47·01 | 456·20 | + |Sept. 30th, ” | 283944·316 | 43·53 | 420·18 | + |Dec. 31st, ” | 1012329·518 | 44·57 | 509·08 | + |March 31st, 1856 | 360409·244 | 38·39 | 489·05 | + |June 30th, ” | 818465·116 | 40·36 | 509·57 | + |Dec. 31st, ” | 362599·792 | 41·74 | 406·28 | + |March 31st, 1857 | 73638·878 | 39·64 | 233·84 | + |June 30th, ” | 19872·998 | 40·52 | 57·86 | + |Dec. 31st, ” | 1154606·290 | 54·69 | 18·45 | + +------------------+---------------+-----------------+---------+ + +There will be occasion to refer to the next table for further +information; but as the facts in this table are not strictly comparable +with any others that will be given, it is better to explain this as +it stands. Of the rate per centum of coin obtained from the bars +there will be occasion to speak at a later period. These figures are +placed here with a view to save repetition, which would be necessary +when that subject is discussed.[50] Although the figures in the first +column represent ounces, each item can at pleasure be converted into +pounds sterling by multiplying it by £3·89375, which is the decimal +expression for £3 17_s._ 10½_d._, the price per ounce of standard gold. +In such case it will only be necessary to multiply the weight of the +coinage by that value, and then to consider the loss of metal as pounds +sterling—thus, 300,260·201 ozs. + £3·89375 = £1,171,318 5_s._ 3¼_d._, +which sum lost weight by coining at the rate of £446 18_s._ 9½_d._ +per million coined. If calculation be made by addition and division +of the figures in the third column, it will be observed that the +average loss per million between March, 1852, and December, 1856, is +£577·96,[51] and this was believed to be absolutely wasted in coining; +but this amount may be fairly reduced by the deduction of £72 10_s._, +the average value of sweep recovered, when it will remain £505·85. It +will also be seen that the rate per million missing—for that is the +fact—varied a good deal according to circumstances. + +[Footnote 50: See pages 107, 117.] + +[Footnote 51: See page 89.] + +It has been asserted that these losses were mere matters of account, +and resulted from the removal of “fat or oil” in the various +operations. These explanations shall be admitted to their fullest +extent, but that they do not contain the cause for all the losses is +to be gathered from the fact that gold has been returned to the Mint +by the brickmaker, who found it in the ashes which he had bought. That +there were cases of actual theft I am myself aware; for I, by the +Master’s sanction, dismissed two men who were detected. Eleven others +shared the same fate, but no prosecution was attempted or permitted, +although strongly urged. As bearing on this point the following, in +relation to “peculation,” is told and believed in the Mint:—In 1856, +when the men had formed a strong opinion as to the honesty of one +particular person, they took their own means to watch him, and to see +how and when he abstracted the metal. A clear-headed man made it his +business to do this duty. The suspected man was assisting the officer +at the scales in the drag room, when the watcher saw him, after the +bullion was weighed, take a piece stealthily and secrete it in the +palm of his hand. The watcher, thinking to secure detection, requested +the officer at the scales to re-weigh that draft; but this gentleman +refused to comply. The watcher then told the officer what he had seen, +and that if he would open the man’s hand the piece of gold was still in +it, when the officer, addressing the suspected person, said, “Is it all +right, John?” John replied “Yes,” and no more passed. On his road home +“John” stumbled, and a piece of uncoined gold fell on the pavement. + +That metal was actually removed from the premises is beyond doubt, for +a late officer picked up a piece of gold in the courtyard wrapped in +brown paper, and the police brought to the Master a “flat end”[52] of +gold, which had been offered for sale. The police inspected all the +men in the Mint employ; but the person who abstracted the gold did not +personally offer it for sale, and thereby escaped detection. + +On the 2nd of December, 1853, the cutting room book records a loss of +87·26 ounces of gold, for which no satisfactory explanation is given. +This book also contains some significant remarks by the officer who had +charge of that department. + +The Mint books adopt the word “Wasteage” as explanatory of these +losses, which were believed to be a necessary result of coining; so +generally, indeed, was this firmly-implanted belief entertained, that +at the bottom of each day’s account the word loss was printed, so that +the officer had only to write the amount which was missing. + +If indeed proof that unnecessary wasteage[53] took place be required, +it will be but necessary to quote from the letter of the Master of the +Mint to the Treasury, dated 7th June, 1860. This letter was placed in +my hands on the 1st June, 1860, by the Master, who desired me to copy +such parts as related to loss and were of service to me, and that I +might confirm the accuracy of his figures. He said, “It appears by the +table that the average loss on the gold coinage of the first six years +is £784 0_s._ 0¾_d._, and on the gold of the last three years £172 +8_s._ 11½_d._ per million coined, showing an improvement of £611 11_s._ +1¼_d._ per million coined. On the twelve millions of gold coined during +the last three years the saving exceeds twelve thousand pounds.” The +three years here referred to were contained in the period during which +Mr. Graham entrusted me with the management of the coining department. + +[Footnote 52: See page 27.] + +[Footnote 53: See pages 99-106.] + +That the actual amount of loss by coining may be got at, it will be +necessary to view the matter in a different form, and in that way to +show the amount of money recovered by the sale of sweep; that is, by +the sale of the ignited rubbish accumulated during a coinage, and +in the statement given on page 90 the money value of each item is +specifically represented. It need not be insisted that the utmost care +should be exercised in preserving the sweep, when it is stated that +this yields, at the end of a coinage, from 15 to 20 ounces of material +bullion called _scrap or supply_, when picked over before sale, for +only such as will pass through a fine sieve is sold; yet this sweep +used to stand about in open, unlocked boxes from month’s end to month’s +end. + +It would be wrong to state that there is no _apparent_ loss by coining +gold. If, however, the whole circumstances be examined, it will be +found that, after deducting every legitimate waste, an appreciable gain +should be exhibited. In annealing sovereign blanks the loss is 54·12 +ounces on each million. This then would appear to be an absolute waste; +but starting on the undisputed fact that “_matter cannot be lost_,” let +us see what becomes of these 54·12 ounces apparently lost. 54·12 ounces +contain 25,977·60 grains troy. Now, since careful analysis extending +over more than thirty millions of gold annealed has determined that +each million lost 5,708 grains of copper, and this copper is washed +away as sulphate of copper, it may be admitted that so much is lost, +thus leaving 20,169·60 grains unaccounted for. These 20,169·60 grains +are just 42·02 ounces, and if proper care were bestowed I could show +how every particle should be recovered at the end of the coinage. + +That there should be a gain is demonstrable from the fact that the gold +as received into the coining department is quite clean; when wrought it +becomes coated with oil, and this being returned on the scissel[54] to +the melting-house is really charged as gold. In 1858 Mr. W. H. Barton, +experimenting independently, arrived at the conclusion that there were +200 ounces of oil on 765,370 ounces of gold scissel, while on the same +scissel I, by careful experiments, determined that there were 118·39 +ounces of oil, the remainder being dust and other foreign matter. +Further experiments, conducted by Mr. Barton for his own satisfaction, +brought him to adopt my figures as accurate. This proportion would give +154·55 ounces to each million ounces of scissel; but since good work +returns only 35·80 per cent. of scissel on the rough bars, it becomes +manifest that this same proportion is but 101·22 ounces in each million +coined. + +[Footnote 54: See pages 35, 87.] + +Now the MONEYERS[55] used to make an allowance of 347 ounces to each +million ounces of scissel, and with such sharp business-like people +it is barely possible that they allowed too much. We may therefore +assume that the scissel of the present day is much less covered with +oil than it used to be; and this is indeed the truth, for whereas the +trucks were wont to be actually spotted with oil which dropped from +gold scissel, they are now unstained; and it may be mentioned that, to +test the minute amount on the scissel, the Master has upon occasions +wiped it with a white cambric handkerchief, by way of settling a +disputed point, without perceptibly soiling the handkerchief. Admitting +then a loss of 42·02 by annealing and blanching, we get, by deducting +this from the gain by oil, an absolute gain of 59·20 ounces on each +million ounces coined. In a little while, when examining the table, we +shall see how this theory worked out in practice; for, to be perfect, +it should be capable of demonstration. The question will naturally +arise, If the oil be now so small in proportion, why should there not +be an increased loss by melting? And here indeed arises a very nice +point, but one which is proved to demonstration—that whereas large +amounts of oil _cause_ loss, small quantities of oil PREVENT loss by +melting, and for the following reason. Standard gold consists of copper +2 parts, gold 22 parts. So soon as this gold approaches red heat it +changes to a purple colour on its surface, owing to the oxidation of +the copper. If, however, a trace of oil be present, the heat, while it +warms the gold, volatilises the oil, and thus places the gold in an +atmosphere free from oxygen, so that the standard gold remains metallic +until it liquefies; hence the saving of loss, for any oxide of copper +would be lost in the pot. This matter of the oil has been dwelt upon +because it is a vexed question, and when the melter, by want of care, +makes a large loss, he invariably, by a human weakness, attributes +the loss to the oil on the scissel. It was on such an occasion that +the assistant-melter produced the following amusing parody on the +three witches of Shakespeare. The illustrative picture is clever, but +unfitted for these pages. + +[Footnote 55: The moneyers were those contractors who conducted the +coinages previously to the Mint being formed into a governmental +department in 1851.—_Vide_ Parliamentary Reports, 1837, 1849, 1852.] + + _First Witch_. Round about the journeys go, + In the dirt and rubbish throw; + Extraneous matters, small and great, + Everything to make the weight. + + _Second Witch_. Stone swept up and pounded small, + Pieces of the stuccoed wall, + A bit of saffron-coloured brick, + Odds and ends of broken stick; + Here’s the sweeping of the floor, + Weighing full an ounce or more. + + _All_. Hubble bubble, toil and bubble, + Give the melter every trouble. + + _Third Witch_. Copper by annealing got, + Send largely to the melting-pot; + A pennyweight of leather strap, + A piece of old brown paper cap, + Some cotton fluff, ten grains of coal, + Then OIL to saturate the whole. + + _All_. Hubble bubble, toil and bubble, + Give the melter every trouble. + + MACBETH (_as Justice_). How now, ye secret, black, + and cunning rollers! + What is’t ye do? + + _All_. A deed without a name. + + _24th November, 1862._ J. G. + +Upon consulting the table—see p. 90—it will be found that, by deducting +the value of the sweep recovered, from the value of the metal lost, +between the periods November, 1851, and March, 1857, the actual loss +was £19,930 18_s._ 0_d_., which sum, divided by the amount of gold +coined in that period—viz., £40345185·450, gives £494 as a _bona fide_ +loss on each million pounds coined, when the belief was to the effect +that there must be a loss. The great fact, _that matter once existent +cannot be lost_, was never applied to the operations of minting until, +in 1856, I demonstrated to the Master that the floors not being paved +to many inches thick with gold, the bullion which was stated to be +“wasted” in coining must have been _absolutely volatilised_, the +proposition exposing me to more than ridicule at the time, and to +positive hatred and misrepresentation thereafter; but when once the +determination was formed to arrest what I saw clearly was unnecessary +loss, it was carried out firmly, and in November, 1856, I commenced my +determinations of the _necessary_ amount of loss in each operation, as +well as a series of experiments to elucidate other points requiring +reform and explanation. + +In furtherance of this firm resolve I assembled the men together, and +informed them that I had now taken charge of the departments over which +I had been placed, and that I should not permit any man to leave the +Mint until the account was satisfied, and I had received from them the +bullion to its uttermost part which I proposed to entrust to them. +That I might effect this determination I weighed out to them, in their +presence, a limited weight of gold, and then directed their foreman, +on their behalf, to satisfy himself that the weight I charged was fair +and honest; and then, with a firmness which surprised them, I followed +this gold step by step, never for an instant permitting it to leave +my sight, and at _each step in its passage from bullion to coined +money_ I carefully weighed it, and made the foreman again check me, +all the men being witnesses. At the end of the operations a FIXED GAIN +exhibited itself. I was called upon for an explanation, which I gave, +and each man was thus convinced that it was no use to attempt to cheat +me, and was compelled to acknowledge that unless by abstraction there +could be no loss. Many arguments followed for months, but LOSS became a +matter of history so long as I was present,—not so in my absence, even +at that time, as the books will show. + +Great firmness was required, but I persevered, and received not only +thanks, but very valuable assistance from many of the men. With a +view to keep the Master supplied with information as I gained it, I +adopted a plan of reporting to him daily in writing the various changes +which took place in the bullion under my care as regards differences +of weighing, loss or gain, the amount per cent. of coin obtained, and +other such details, and at the end of each coinage I summarised the +whole of such facts into a tabular form, and thus rendered to him a +complete history of the operations conducted. This proved of immense +service, for upon the occurrence of an unusual event, attention was +at once drawn to it, and means adopted to discover the cause, while +at the same time a constant study of these reports could not fail to +induce for myself a more minute inquiry into the various branches of +my subject. I feel it cannot be unfitting to give, before proceeding +further, one of these statements or reports relating to gold, and when +I come to the discussion of silver I will, in its proper position, +place such another table, because these seem to convey much practical +information which will be useful to those engaged in coining. + +The report placed on page 92 is a copy of one I made to the Master, so +I give it _in extenso_, and it will be found that by it bullion may be +traced from its first admission to the coining department to its final +issue as coined money, while each item of its history finds a place in +the immediate department in which the bullion may be under operation. + +STATEMENT OF LOSSES INCURRED AND OF SWEEP RECOVERED. THIS REFERS WHOLLY +TO GOLD IN THE COINING DEPARTMENT. + + +--------------------------+-----------+-------------------+-------- + | | Weight of | | Weight + | Date—Financial Year. | Coinage. | Value of Coinage. | of + | | | | Lost + | | | | Metal. + +--------------------------+-----------+-------------------+-------- + | | Ounces. | £ _s._ _d._| Ounces. + | Nov. 1851 to March 1852 | 351837·830| 1,369,968 11 0 | 134·206 + |April 1852 to March 1853 |3058360·186|11,908,489 19 5½ |1851·888 + | ” 1853 ” 1854 |2726011·580|10,614,408 11 9¾ |1804·559 + | ” 1854 ” 1855 | 812219·517| 3,162,579 14 10½ | 424·092 + | ” 1855 ” 1856 |2158391·456| 8,404,236 14 7½ |1039·798 + | ” 1856 ” 1857 |1254703·786| 4,885,502 17 2 | 581·615 + | ” 1857 ” 1858 |1256586·572| 4,892,833 19 4 | 17·784 + | ” 1858 ” 1859 | 736150·582| 2,866,386 6 6¾ | 16·603 + | ” 1859 ” 1860 | 980070·679| 3,816,150 4 2 | 74·857 + | ” 1860 ” 1861 | 861205·000| 3,353,316 19 5 | + | ” 1861 ” 1862 |1872214·638| 7,289,935 14 11 | 263·568 + | ” 1862 ” 1863 |2351444·336| 9,155,936 7 8 | 27·480 + | ” 1863 ” 1864 |1807332·130| 7,037,299 9 8 | 47·054 + | ” 1864 ” 1865 |1949438·200| 7,590,624 19 10 | 43·491 + | ” 1865 ” 1866 |1256347·104| 4,891,901 10 9 | 57·612 + | ” 1866 ” 1867 | 175838·208| 684,670 0 5 | 5·037 + | ” 1867 ” 1868 | 109580·129| 426,677 12 1¾ | 3·357 + |June 1868 to Sept. 1868 | 280993·740| 1,094,119 7 6 | ⁂19·87| + +--------------------------+-----------+-------------------+-------- + +--------------------------+-----------------+-------------- + | | Value of | Value of + | Date--Financial Year. | Lost Metal. | Sweep. + | | | + | | | + +--------------------------+-----------------+-------------- + | | £ _s._ _d._ | £ _s._ _d._ + | Nov. 1851 to March 1852 | 522 11 3 | 89 1 3 + |April 1852 to March 1853 | 7,210 15 9¼ | 716 11 11½ + | ” 1853 ” 1854 | 7,026 10 0¼ | 707 7 3½ + | ” 1854 ” 1855 | 1,651 6 1¾ | 222 14 3 + | ” 1855 ” 1856 | 4,148 14 3 | 635 4 1½ + | ” 1856 ” 1857 | 2,264 13 3 | 422 13 10 + | ” 1857 ” 1858 | 69 4 11 | 192 14 10 + | ” 1858 ” 1859 | 64 12 11½ | 209 16 7 + | ” 1859 ” 1860 | 291 9 6 | 254 4 9 + | ” 1860 ” 1861 | | + | ” 1861 ” 1862 | 1,026 5 4 | 545 10 5½ + | ” 1862 ” 1863 |+ 107 0 1 | 360 1 11 + | ” 1863 ” 1864 |+ 183 4 4 | 459 0 1 + | ” 1864 ” 1865 | 169 6 10 | 295 9 3½ + | ” 1865 ” 1866 | 224 6 6 | 350 3 9 + | ” 1866 ” 1867 | 19 12 3 | Nil. + | ” 1867 ” 1868 | 13 1 5 | Nil. + |June 1868 to Sept. 1868 | 77 7 7 | Nil. + +--------------------------+-----------------+-------------- + +--------------------------+---------------+-------------- + | | Value of Lost |Value of Sweep + | Date--Financial Year. | Metal per | per Million + | |Million Coined.| Coined. + | | | + +--------------------------+---------------+--------------+ + | | £ _s._ _d._ | £ _s._ _d._ + | Nov. 1851 to March 1852 | 381 8 10¼ | 65 0 2½ + |April 1852 to March 1853 | 605 10 3¾ | 60 3 5¾ + | ” 1853 ” 1854 | 661 19 6½ | 66 12 10 + | ” 1854 ” 1855 | 522 2 1¾ | 70 8 5 + | ” 1855 ” 1856 | 481 14 10¾ | 75 11 7½ + | ” 1856 ” 1857 | 463 10 11¼ | 86 10 4¼ + | ” 1857 ” 1858 |⁂ 14 3 0 | 39 7 10½ + | ” 1858 ” 1859 |⁂ 22 11 0½ | 73 4 0½ + | ” 1859 ” 1860 | 76 7 7 | 66 12 5 + | ” 1860 ” 1861 | | + | ” 1861 ” 1862 | 96 8 6 | 51 5 1 + | ” 1862 ” 1863 |+ 11 3 8 | 39 6 7 + | ” 1863 ” 1864 |+ 26 0 8 | 65 4 5 + | ” 1864 ” 1865 |⁂ 22 6 2 | 38 18 6 + | ” 1865 ” 1866 |⁂ 45 17 1 | 71 11 8 + | ” 1866 ” 1867 | 28 12 10 | Nil. + | ” 1867 ” 1868 | 30 12 8¼ | Nil. + |June 1868 to Sept. 1868 | 70 14 5¾ | Nil. + +--------------------------+---------------+--------------+ + +NOTES.—The sign + indicates that on those special coinages there was an +actual gain by weight to the extent specified, which will be explained +on page 98. + +The ⁂ is intended to draw the attention of the reader to these figures +when a little later they are explained at pages 89, 93, 94, 95, 98. + +To obtain the true amount of loss, deduct the value of the sweep from +the value of the gold lost. + +RETURN TO AN ORDER OF THE HOUSE OF LORDS DATED 17TH FEBRUARY, 1870. THE +LORD ROSSIE. No. 1. + +FROM THE COINING DEPARTMENT OF THE ROYAL MINT. + +A STATEMENT of the Weight and Value of the Gold Moneys coined in each +Financial Year from 1851 to 1869 inclusive, exhibiting the Weight and +Value of the Loss or Waste sustained in each Year, as well as the Value +of Sweep recovered, and the average Proportion of such Loss or Waste +and Sweep recovered to each Million Pounds Sterling coined. + + +----------------------------+-----------+----------------------+ + | Date. | Weight of | Value of Coinage. | + | | Coinage. | | + +----------------------------+-----------+----------------------+ + | | Ounces. | £ _s._ _d._ | + |Nov. 1851 to March 1852. | 351837·830| 1,369,968 11 0 | + |April 1852 to March 1853 |3058360·186|11,908,489 19 5 | + | ” 1853 ” 1854 |2726011·580|10,614,407 11 10 | + | ” 1854 ” 1855 | 812219·517| 3,162,579 14 10 | + | ” 1855 ” 1856 |2158391·456| 8,404,236 14 7 | + | ” 1856 ” 1857 |1254703·786| 4,885,502 17 4 | + | ” 1857 ” 1858 |1256586·572| 4,892,833 19 4 | + | ” 1858 ” 1859 | 736150·582| 2,866,386 6 7 | + | ” 1859 ” 1860 | 980070·679| 3,816,150 4 2 | + | ” 1860 ” 1861 | 861205·000| 3,353,316 19 5 } | + | ” 1861 ” 1862 |1872214·638| 7,289,935 14 11 } | + | ” 1862 ” 1863 |2351444·336| 9,155,936 7 8 | + | ” 1863 ” 1864 |1807332·130| 7,037,299 9 8 | + | ” 1864 ” 1865 |1949438·200| 7,590,624 19 10 | + | ” 1865 ” 1866 |1256347·104| 4,891,901 10 9 | + | ” 1866 ” 1867 | 175838·208| 684,670 0 5 | + | ” 1867 ” 1868 | 127485·816| 496,397 17 11 | + | ” 1868 ” 1869 |1270778·550| 4,948,093 19 7 | + +----------------------------+-----------+----------------------+ + +----------------------------+---------+--------------+------------- + | Date. |Amount of| Value of | Value of + | | Waste. | Waste. | Sweep + | | | | recovered. + +----------------------------+---------+--------------+------------- + | | Ounces.| £ _s._ _d._| £ _s._ _d._ + |Nov. 1851 to March 1852. | 134·206| 522 11 3 | 89 1 3 + |April 1852 to March 1853 | 1851·888|7,210 15 9 |716 11 11½ + | ” 1853 ” 1854 | 1804·559|7,026 10 0 |707 7 3½ + | ” 1854 ” 1855 | 424·092|1,651 6 2 |222 14 3 + | ” 1855 ” 1856 | 1039·798|4,148 14 3 |635 4 1½ + | ” 1856 ” 1857 | 581·615|2,264 13 8 |422 13 10 + | ” 1857 ” 1858 | 17·784| 69 4 11 |192 14 11 + | ” 1858 ” 1859 | 16·603| 64 13 0 |209 16 7 + | ” 1859 ” 1860 | 74·857| 291 9 6 |254 4 9 + | ” 1860 ” 1861 | | | + | ” 1861 ” 1862 | 263·568|1,026 5 4 |545 10 5½ + | ” 1862 ” 1863 |!+ 27·480| 107 0 1 |360 1 11 + | ” 1863 ” 1864 | + 47·054| 183 4 4 |459 0 1 + | ” 1864 ” 1865 | 43·491| 169 6 10 |295 9 3½ + | ” 1865 ” 1866 | 57·612| 224 6 6 |350 3 9 + | ” 1866 ” 1867 | 5·037| 19 12 3 | Nil. + | ” 1867 ” 1868 | 3·357| 13 1 5 | Nil. + | ” 1868 ” 1869 | 45·585| 177 9 11 |538 3 1 + +----------------------------+---------+--------------+------------- + + +----------------------------+-----------------+----------------+ + | Date. | Value of Waste | Value of Sweep | + | | per £1,000,000. | per £1,000,000.| + +----------------------------+-----------------+----------------+ + | | £ _s._ _d._ | £ _s._ _d._ | + |Nov. 1851 to March 1852. | 381 8 10 | 65 0 3 | + |April 1852 to March 1853 | 605 10 4 | 60 3 6 | + | ” 1853 ” 1854 | 661 19 7 | 66 12 10 | + | ” 1854 ” 1855 | 522 2 2 | 70 8 5 | + | ” 1855 ” 1856 | 493 12 11 | 75 11 8 | + | ” 1856 ” 1857 | 463 10 11 | 86 10 5 | + | ” 1857 ” 1858 | 14 3 0 | 39 7 10 | + | ” 1858 ” 1859 | 22 11 1 | 73 4 0 | + | ” 1859 ” 1860 | 76 7 7 | 66 12 5 | + | ” 1860 ” 1861 | | | + | ” 1861 ” 1862 | 96 8 6 | 51 5 1 | + | ” 1862 ” 1863 | 11 13 8 | 39 6 7 | + | ” 1863 ” 1864 | 26 0 8 | 65 4 5 | + | ” 1864 ” 1865 | 22 6 2 | 38 18 6 | + | ” 1865 ” 1866 | 45 17 1 | 71 11 8 | + | ” 1866 ” 1867 | 28 12 10 | Nil. | + | ” 1867 ” 1868 | 26 6 7 | Nil. | + | ” 1868 ” 1869 | 35 17 5 | 108 15 2 | + +----------------------------+-----------------+----------------+ + + ! _Note._—The financial years 1862/1863 and 1863/1864 exhibit + a _gain_ in the Coining Department. + C. W. FREMANTLE, DEPUTY-MASTER OF THE MINT. + + ROYAL MINT, _2nd March, 1870_. + +STATEMENT OF WORK PERFORMED IN THE COINING DEPARTMENT FROM OCTOBER 2ND, +1857, TO DECEMBER 17TH, 1857, INCLUSIVE. + +The Coinage was completed in 53 Days. The Value of the coined Gold was +£4,495,748 4_s._ 10_d._ + + +----------------------------------------------------+ + | IN ROLLING ROOM. | + +----------------------------------------------------+ + | RECEIVED. | + +----------------------------------------------------+ + |Weight of Gold Bars for Sovereigns | + | by Mint Office Beam 2110962·00 ozs.| + |Weight of the same Bars | + | by Rolling Room Beam 2110939·71 ” | + | ---------- | + |Showing a minus difference upon | + | the Mint Office weight of 22·29 ” | + | ========== | + +----------------------------------------------------+ + | RETURNED. | + +-------------------+-----------------+--------------+ + | | As by | As by | + | | Rolling | Mint | + | | Room | Office | + | | Beam. | Beam. | + +-------------------+-----------------+--------------+ + | | Ounces. | Ounces. | + |Fillets | 2016337·80 | | + |Stopped Pots | 1256·15 | 1256·15 | + |Brittle Bars | 12142·36 | 12142·36 | + |Ends | 81207·18 | 81208·24 | + +-------------------+-----------------+--------------+ + | | 2110943·49 | 94606·75 | + |Deduct “received” | 2110939·71 | ========= | + +-------------------+-----------------+ | + |Increase during | 3·78 | | + |work. | | | + +-------------------+-----------------+--------------+ + | The Ends were 4·49 per cent. on Bars. | + +----------------------------------------------------+ + + +----------------------------------------------------+ + | IN CUTTING ROOM. | + +----------------------------------------------------+ + | RECEIVED. | + +----------------------------------------------------+ + |Gauged Fillets for Sovereigns | + | by Rolling Room Beam 2016337·80 ozs.| + |Gauged Fillets for Sovereigns | + | by Cutting Room Beam 2016331·10 ” | + | ---------- | + |Showing a minus difference | + | upon the Rolling Room weight of 6·70 ” | + +----------------------------------------------------+ + | RETURNED. | + +----------------------+------------+----------------+ + | | As by | As by | + | | Cutting | Mint | + | | Room | Office | + | | Beam. | Beam. | + +----------------------+------------+----------------+ + | | Ounces. | Ounces. | + |Cut Blanks | 1250996·04 | | + |Scissel | 755829·53 | 755830·74 | + |Dumb Fillets | 9540·00 | 9540·00 | + +----------------------+------------+----------------+ + | | 2016365·57 | 765370·74 | + |Deduct “received” | 2016331·10 | | + +----------------------+------------+ | + |Increase during | 34·47 | | + |work. | | | + +----------------------+------------+----------------+ + |The Dumb Fillets were 0·45 p. c. on Bars. | + |The Scissel was 35·80 ” ” | + +----------------------------------------------------+ + + +----------------------------------------------------+ + | IN WEIGHING ROOM. | + +----------------------------------------------------+ + | RECEIVED. | + +----------------------------------------------------+ + |Cut Blanks for Sovereigns | + | by Cutting Room Beam 1250996·04 ozs.| + |Cut Blanks for Sovereigns | + | by Weighing Room Beam 1250989·11 ” | + | ---------- | + |Showing a minus difference | + | upon the Cutting Room weight of 6·93 ” | + +----------------------------------------------------+ + | RETURNED. | + +----------------------+------------+----------------+ + | | As by | As by | + | | Weighing | Mint | + | | Room | Office | + | | Beam. | Beam. | + +----------------------+------------+----------------+ + | | Ounces. | Ounces. | + |Good Blanks | 1163502·34 | | + |Rejected Blanks | 87488·31 | 87488·57 | + +----------------------+------------+----------------+ + | | 1250990·65 | 87488·57 | + |Deduct “received” | 1250989·11 | ========= | + +----------------------+------------+ | + |Increase during | 1·54 | | + |work. | | | + +----------------------+------------+----------------+ + |The Rejected was 4·14 per cent. on Bars. | + | ” ” 6·99 ” Blanks. | + +----------------------+------------+----------------+ + + +----------------------------------------------------+ + | IN ANNEALING AND PRESS ROOMS. | + +----------------------------------------------------+ + | RECEIVED. | + +----------------------------------------------------+ + |Good Blanks for Sovereigns | + | by Weighing Room Beam 1163502·34 ozs.| + |Good Blanks for Sovereigns | + | by Annealing Room Beam 1163487·44 ” | + | ---------- | + |Showing a minus difference upon | + | the Weighing Room weight of 14·90 ” | + +----------------------------------------------------+ + | RETURNED. | + +----------------------+------------+----------------+ + | | As by | As by | + | | Press Room | Mint | + | | Beam. | Office | + | | | Beam. | + +----------------------+------------+----------------+ + | | Ounces. | Ounces. | + |Coined Sovereigns | 1154590·87 | 1154606·29 | + |Pyx Pieces | 1903·92 | 1909·21 | + |Brockages | 6926·03 | 6925·90 | + +----------------------+------------+----------------+ + |One Sovereign | | | + | missing. | ·25 | | + +----------------------+------------+----------------+ + |Loss of Weight | | | + | by Annealing | 57·05 | | + | and Blanching | | | + +----------------------+------------+----------------+ + | | 1163483·12 | 1163441·40 | + | | | ========== | + |Deduct “returned” | 1163487·44 | | + +----------------------+------------+ | + | | | | + |Loss during work | 4·32 | | + +----------------------+------------+----------------+ + |The Brockages were 0·33 on Bars. | + |The Coined Money was 54·79 on Rough Bars. | + | ” ” 57·26 on Clean Bars. | + +----------------------------------------------------+ + + Paid for Wages of Men + and Boys. + ------------------------------ + Rolling Fillets, £252·402225 + Cutting Blanks, £260·624165 + Annealing Do. £145·437875 + Coining Do. £120·269875 = £778 14_s._ 8_d._ + for £4,495,748 4_s._ 10_d._ Coined Money. + + Memorandum of + Coined Gold Moneys delivered + into Mint Office. + ---------------------------- + Ounces. + October 252030·274 + November 594084·366 + December 308491·650 + ------------ + 1154606·290 + ============ + + 4495748·2 : 778·7 :: 1000 : 0·173208 = 3_s._ 5½_d._ + 4495748 : 36·64 :: 1000 : 1·955_d._ + The Wages paid for Melting 2,110,962 were + £36·64 = 1·955_d._ on each 1,000 Sovereigns coined. + = 0·001955 on each Sovereign coined. + 1,000 Sovereigns cost 3_s._ 5½_d._ to coin + = 0·04156992 of a Penny for each Coin. + + _To the_ MASTER OF THE MINT. GEORGE F. ANSELL, _January 20th, 1858_. + +Reference to the table at page 84 will demonstrate the fact that, by +March, 1857, the average loss had fallen to £233·84, while in June +of the same year it had been reduced to £57·86, finally reaching so +low as £18·45 in December, 1857, the sums being in every way strictly +comparable with all those of that table, because the value of the sweep +is not taken into account in any case. As is usual in all discoveries, +the merit was soon found to be worth claiming, but that the credit was +due to me the Master himself admitted; and it is a fact that I was the +only new officer, while all those who had been previously employed were +still retained; and I feel that the Master confirmed his opinion when, +in consequence of the reforms I had effected, he obliged all officers +to follow such directions as I gave. In all cases where time would +permit, I made it a rule to obtain the Master’s sanction before giving +orders; but in cases of necessity I was empowered to act independently, +and did so act, he confirming such orders as I gave. It should also +be mentioned that so soon as I entered the Mint, Mr. Graham gave me +positive instructions not to allow either of the then chief officers +to interfere with the coining department. Nor would he permit a gold +coinage to be conducted in my continued absence. If, however, the +business of the Mint called me away, he, to induce the belief that I +was in town and on the spot, would pay my expenses to and from London +from his own pocket, and this he did on several occasions, because he +found that “in my absence unnecessary loss re-appeared.” The opposition +offered to the coining of bronze in the Royal Mint was so great, that +the Master wished me to go to the mint of Messrs. Heaton and Sons +at Birmingham, and there make such experiments as were necessary to +confirm the opinions I had formed on that subject. This firm, with a +generosity ever their own, permitted me to make, during a considerable +period, and free of charge, such experiments for the Mint as I deemed +necessary, rendering every possible assistance; but my investigations +and agreeable visit were brought suddenly to a close by the following +note from the Master:— + + “ROYAL MINT, _9th January, 1861_. + + “MY DEAR SIR. + + “Owing to renewed pressure for gold coin, we find it necessary to + begin rolling on Friday next. I am sorry to shorten your holiday, + but your presence is very desirable as soon as gold enters the + rolling room, and will relieve me of much anxiety. + + “The pyx pence received from Mr. Gausby to-day appear to be of fair + quality. We should like to have a ton or two. + “Very truly yours, + “THO. GRAHAM. + “G. F. ANSELL, ESQUIRE, + “At Messrs. Heaton & Sons, Birmingham.” + +To demonstrate, then, the correctness of the theorem I had proposed, +it will be necessary to refer once more to the table on page 90, where +it will be seen that these results exhibit themselves in the financial +year April to March, 1857-58, when the loss in each million coined +was £14 3_s._, and the sweep recovered in that year was sold at the +rate of £39 7_s._ 10½_d._ for each million coined. If, therefore, +the proportionate loss be deducted from the value of sweep sold, we +have for the first[56] time in the experience of coiners a GAIN BY +COINING to the extent of £25 4_s._ 10½_d._ on each million coined, thus +approaching to the calculated gain of £59 4_s._, while in the next +financial year it will be observed that there was a loss of £22 11_s._ +0½_d._, with a value of sweep recovered £73 4_s._ 0½_d._, giving an +absolute gain of £50 13_s._,[56] practically the result calculated +upon. To comprehend, then, the reason, why in the following years a +loss is again permitted, it will be necessary to enter into matters +of the inner life of the Mint. By the year 1859 the hatred excited +against me in consequence of these exposures had culminated to the +extreme. The Master, then desirous of finding a permanent position for +his brother,[57] listened to and encouraged any stories against myself, +notwithstanding the facts above related, and instead of consulting me +and sending necessary orders through me, as usual, sent written orders +openly by messengers, whose instructions were to read them to each +officer. These styled by himself “circulating orders,” were intended to +disgust all the officers who had assisted in the reforms, and it was +apparently determined by these and other like means to bring back the +management of the Mint into the former chaos of irregularities, that he +might make his brother’s appointment appear necessary. + +[Footnote 56: See page 178.] + +[Footnote 57: Mr. John Graham, who had been engaged “gratuitously” for +many months “to get his hand in,” was appointed, on the 23rd April, +1861, to an extra clerkship, at £20 a month, as Inspector of Bronze +Coins,—“as a warming-pan.”] + +The disrespect thus exhibited to myself, and to the officers generally, +had to a certain extent its designed effect, for in 1859-60 the loss +rose to £76 7_s._ 7_d._, the sweep selling for £66 12_s._ 5_d._, +showing an absolute loss of £9 15_s._ 2_d._ It will now be necessary to +refer to a statement of losses and gains upon each _quarter_, because +the accounts were not officially balanced, the next statement being for +the years April, 1860, to March, 1862,[58] but the quarterly account +below[59] shows that the loss rose to 65·444 ounces, progressing +rapidly in June, 1861, to 105·823 ounces, while in March, 1862, it had +reached the ugly figure of 157·745 ounces. Before, however, this vast +loss had been reached, the officers consulted together with a view to +devise a means of arresting the downward course. About this time a +piece of gold was discovered secreted in the drag room tunnel. I felt +that this was a fact on which I could legitimately appeal to the Master +against his new system, and this I did on the 31st December, 1861, when +I represented to him that the reappearance of the losses was wholly +due to his withdrawal of support from his officers, and that if he +would not take the steps which were necessary, he alone must bear the +blame, for I had now represented the truth to him. He asked my advice; +so I told him boldly that he must come down officially to the works, +as of old, and show himself a supporter of honest men. After much +persuasion he assented to this advice, and came down. From that day the +losses ceased, yet the effects, so far as the accounts are concerned, +are exhibited till the quarter ending March, 1862; but the following +quarter, ending June, 1862, exhibits a natural gain of 17·942 ounces. +This table is of value, as showing the alternations of the apparent +gain or loss; for in some quarters the loss appears to be greater than +in others, arising from the fact that the bullion picked from the sweep +is in some cases included; but this is always included in the return of +the financial year. + +[Footnote 58: See page 90.] + +[Footnote 59: See page 95.] + + STATEMENT SHOWING THE LOSSES AND GAINS UPON EACH QUARTER, FROM + JUNE, 1856, TO SEPTEMBER, 1868. + + +------------------+-----------------------+---------------------+ + | | GOLD. | SILVER. | + |Quarter ending:— +------------+----------+-----------+---------+ + | | Loss. | Gain. | Loss. | Gain. | + +------------------+------------+----------+-----------+---------+ + | | Ounces. | Ounces. | Ounces. | Ounces. | + |June 30th, 1856 | 417·070 | | | | + |Dec. 31st, ” | 147·325 | — | 268·460 | | + | | — | — | 9·550 | | + |March 31st, 1857 | 17·220 | — | 690·314 | | + |June 30th, ” | — | — | 94·026 | | + |Sept. 30th. ” | — | — | 315·903 | | + |Dec. 31st, ” | 21·316 | | | | + |March 30th, 1858 | — | 4·673 | 500·335 | | + |Sept. 30th, ” | — | — | 315·114 | | + |Dec. 31st, ” | — | — | 211·250 | | + |March 31st, 1859 | 16·603 | — | 259·082 | | + |June 30th, ” | 9·417 | — | 185·358 | | + |Sept. 30th, ” | — | — | 240·890 | | + |Dec. 31st, ” | — | — | 403·593 | | + |March 31st, 1860 | 65·444[60]| — | 69·096 | | + |Sept. 30th, ” | — | — | 427·238 | | + |June 30th, 1861 | 105·823[61]| | | | + |Dec. 31st, ” | — | — | 606·765 | | + |March 31st, 1862 | 157·745[62]| — | — | 2·501 | + |June 30th, ” | — |[63]17·942| 170·965 | | + |August 31st, ” | 5·671 | | | | + |Dec. 31st, ” | 5·584 | — | 132·984 | | + |March 31st, 1863 | — | 20·793 | | | + |June 30th, ” | — | — | 458·672 | | + |Dec. 31st, ” | 13·767 | | | | + |March 31st, 1864 | — | 60·821 | 48·845 | | + |June 30th, ” | — | 13·843 | 9·042 | | + |Sept. 30th, ” | — | — | 783·347 | | + |Dec. 31st, ” | 39·679 | | | | + |March 31st, 1865 | 17·660 | — | 147·780 | | + |June 30th, ” | — | — | 480·346 | | + |August 31st, ” | — | 1·020 | 195·546 | | + |March 31st, 1866 | 58·632 | — | 230·515 | | + |May 30th, ” | 5·037 | — | 136·014 | | + |Sept. 30th, ” | — | — | 631·037 | | + |March 31st, 1867 | — | — | 260·352 | | + |June 30th, ” | 3·562 | — | 158·951 | | + |August 31st, ” | — | 0·205 | 43·033 | | + |March 31st, 1868 | — | — | 271·540 | | + |June 30th, ” | — | — | 222·545 | | + |Sept. 30th, ” | 19·873 | — | 19·897 | | + +------------------+------------+----------+-----------+---------+ + +[Footnote 60: Specially referred to on page 94.] + +[Footnote 61: Specially referred to on page 94.] + +[Footnote 62: Specially referred to on page 94.] + +[Footnote 63: Specially referred to on page 94.] + +These are grave charges, but an inquiry could not fail to establish +their truthfulness. To return, then, to the table at page 90, it will +be observed that the loss of 1859-60 increased in the years 1860-62 to +£45 3_s._ 5_d._; but the stimulus applied by the renewed support of +the Master reproduced its legitimate results, and in 1862-63, instead +of a loss of bullion, there was a gain of £11 3_s._ 8_d._, which, with +the sweep, made £50 10_s._ 7_d._, and this increased in 1863-64 to £91 +5_s._ 1_d._ + + STATEMENT OF LOSSES INCURRED AND OF SWEEP RECOVERED. + THIS REFERS WHOLLY TO GOLD IN THE MELTING DEPARTMENT. + + +---------------------------+-------------+---------------------+ + | | Weight of | | + | Date—Financial Year. | Coinage. | Value of Coinage. | + | | | | + +---------------------------+-------------+---------------------+ + | | Ounces. | £ _s._ _d._| + |Nov. 1851 to March 1852 | 351837·830 | 1,369,968 11 0 | + |April 1852 to March 1853 | 3058360·186 | 11,908,489 19 5½ | + | ” 1853 ” 1854 | 2726011·580 | 10,614,407 11 9¾ | + | ” 1854 ” 1855 | 812219·517 | 3,162,579 14 10½ | + | ” 1855 ” 1856 | 2158391·456 | 8,404,236 14 7½ | + | ” 1856 ” 1857 | 1254703·786 | 4,885,502 17 2 | + | ” 1857 ” 1858 | 1256586·572 | 4,892,833 19 4 | + | ” 1858 ” 1859 | 736150·582 | 2,866,386 6 6¾ | + | ” 1859 ” 1860 | 980070·679 | 3,816,150 4 2 | + | ” 1860 ” 1861 | 861205·000 | 3,353,316 19 5 | + | ” 1861 ” 1862 | 1872214·638 | 7,289,935 14 11 | + | ” 1862 ” 1863 | 2351444·336 | 9,155,936 7 8 | + | ” 1863 ” 1864 | 1807332·130 | 7,037,299 9 8 | + | ” 1864 ” 1865 | 1949438·200 | 7,590,624 19 10 | + | ” 1865 ” 1866 | 1256347·104 | 4,891,901 10 9 | + | ” 1866 ” 1867 | 175838·208 | 684,670 0 5 | + | ” 1867 ” 1868 | 109580·129 | 426,677 12 1¾ | + +---------------------------+-------------+---------------------+ + +---------------------------+---------+---------------+------------+ + | |Weight of| Value of | Value of | + | Date--Financial Year. | Lost | Lost Metal. | Sweep. | + | | Metal. | | | + +---------------------------+---------+---------------+------------+ + | | Ounces. | £ _s._ _d._| £ _s._ _d._| + |Nov. 1851 to March 1852 | 91·456 | 356 2 1½ |133 0 2 | + |April 1852 to March 1853 |1332·474 |5,188 6 4¾ |708 10 0 | + | ” 1853 ” 1854 | 728·088 |2,834 19 10½ |709 9 8¼ | + | ” 1854 ” 1855 | 223·811 | 871 9 3¼ |209 2 4¾ | + | ” 1855 ” 1856 | 867·277 |3,376 19 2¼ |805 5 4¾ | + | ” 1856 ” 1857 | 515·298 |2,006 8 9¾ |469 1 5¾ | + | ” 1857 ” 1858 | 275·452 |1,072 10 10 |262 18 5¾ | + | ” 1858 ” 1859 | 248·804 | 969 15 7¼ |231 2 1½ | + | ” 1859 ” 1860 | 259·069 |1,008 15 0 |240 16 3 | + +---------------------------+---------+---------------+------------+ + | ” 1860 ” 1861 | | | | + | ” 1861 ” 1862 | 17·668 |3,183 15 11 |729 19 10½ | + +---------------------------+---------+---------------+------------+ + | ” 1862 ” 1863 | 636·395 |2,477 19 3 |590 2 7 | + | ” 1863 ” 1864 | 629·815 |2,452 6 10 |507 11 0 | + | ” 1864 ” 1865 | 464·080 |1,807 0 8 |509 10 0 | + | ” 1865 ” 1866 | 585·622 |2,280 5 4 |535 5 0 | + | ” 1866 ” 1867 | 37·440 | 145 15 8 | Nil. | + | ” 1867 ” 1868 | — | — | 71 10 6 | + +---------------------------+---------+---------------+------------+ + +---------------------------+----------------+---------------+ + | | Value of | Value of | + | Date—Financial Year. | Lost Metal | Sweep | + | | per Million. | per Million. | + +---------------------------+----------------+---------------+ + | | £ _s._ _d._ | £ _s._ _d._ | + |Nov. 1851 to March 1852 | 259 18 9½ | 97 1 9¼ | + |April 1852 to March 1853 | 435 13 7¾ | 59 9 10¾ | + | ” 1853 ” 1854 | 267 1 9¼ | 66 16 10 | + | ” 1854 ” 1855 | 275 11 1 | 66 2 5½ | + | ” 1855 ” 1856 | 401 16 3¾ | 95 16 4 | + | ” 1856 ” 1857 | 410 13 10¼ | 96 0 3¼ | + | ” 1857 ” 1858 | ‡219 4 1¼ | ‡53 14 8½ | + | ” 1858 ” 1859 | ‡337 19 7 | ‡80 12 6¼ | + | ” 1859 ” 1860 | 264 16 8 | 63 2 0 | + +---------------------------+----------------+---------------+ + | ” 1860 ” 1861 | | | + | ” 1861 ” 1862 | 297 10 1 | 68 11 9 | + +---------------------------+----------------+---------------+ + | ” 1862 ” 1863 | 270 12 9 | 64 9 0 | + | ” 1863 ” 1864 | 348 9 6 | 72 2 5 | + | ” 1864 ” 1865 | 238 1 2 | 67 2 5 | + | ” 1865 ” 1866 | 466 2 6 | 109 8 2 | + | ” 1866 ” 1867 | 212 18 6 | Nil. | + | ” 1867 ” 1868 | — | 167 12 6¾ | + +---------------------------+----------------+---------------+ + + This mark (‡) is intended to attract the attention when at + pages 98, 103, these figures are discussed. To obtain the + true amount of loss, deduct the value of the sweep from the + value of the gold lost. + +RETURN TO AN ORDER OF THE HOUSE OF LORDS, DATED 17TH FEBRUARY, 1870. +THE LORD ROSSIE. NO. 2. + +FROM THE MELTING DEPARTMENT OF THE ROYAL MINT. + +A STATEMENT of the Weight and Value of the Gold Moneys coined in each +Financial Year from 1851 to 1869 inclusive, exhibiting the Weight and +Value of the Loss or Waste sustained in each year, as well as the Value +of Sweep recovered, and the average Proportion of such Loss or Waste +and Sweep recovered to each Million Pounds Sterling coined. + + +----------------------------+-------------+----------------------+ + | Date. | Weight of | Value of Coinage. | + | | Coinage. | | + +----------------------------+-------------+----------------------+ + | | Ounces. | £ _s._ _d._ | + | Nov. 1851 to March 1852 | 351837·830 | 1,369,968 11 0 | + | April 1852 to March 1853 | 3058360·186 | 11,908,489 19 5 | + | ” 1853 ” 1854 | 2726011·580 | 10,614,407 11 10 | + | ” 1854 ” 1855 | 812219·517 | 3,162,579 14 10 | + | ” 1855 ” 1856 | 2158391·456 | 8,404,236 14 7 | + | ” 1856 ” 1857 | 1254703·786 | 4,885,502 17 4 | + | ” 1857 ” 1858 | 1256586·572 | 4,892,833 19 4 | + | ” 1858 ” 1859 | 736150·582 | 2,866,386 6 7 | + | ” 1859 ” 1860 | 980070·679 | 3,816,150 4 2 | + | ” 1860 ” 1861 | 861205·000 | 3,353,316 19 5 | + | ” 1861 ” 1862 | 1872214·638 | 7,289,935 14 11 | + | ” 1862 ” 1863 | 2351444·336 | 9,155,936 7 8 | + | ” 1863 ” 1864 | 1807332·130 | 7,037,299 9 8 | + | ” 1864 ” 1865 | 1949438·200 | 7,590,624 19 10 | + | ” 1865 ” 1866 | 1256347·104 | 4,891,901 10 9 | + | ” 1866 ” 1867 | 175838·208 | 684,670 0 5 | + | ” 1867 ” 1868 | 127485·816 | 496,397 17 11 | + | ” 1868 ” 1869 | 1270778·550 | 4,948,093 19 7 | + +----------------------------+-------------+----------------------+ + +----------------------------+--------+---------------+-------------+ + | Date. | Amount | Value of | Value of | + | | of | Waste. | Sweep | + | | Waste. | | recovered. | + +----------------------------+--------+---------------+-------------+ + | | Ounces.| £ _s._ _d._| £ _s._ _d._| + | Nov. 1851 to March 1852 | 91·456| 356 2 2 |133 0 2 | + | April 1852 to March 1853 |1332·474|5,188 6 5 |708 10 0 | + | ” 1853 ” 1854 | 728·088|2,834 19 11 |709 9 8¼ | + | ” 1854 ” 1855 | 223·811| 871 9 3 |209 2 4¾ | + | ” 1855 ” 1856 | 867·277|3,376 19 2 |805 5 4¾ | + | ” 1856 ” 1857 | 515·298|2,006 8 10 |469 1 1¾ | + | ” 1857 ” 1858 | 275·452|1,072 10 10 |262 18 5¾ | + | ” 1858 ” 1859 | 248·804| 968 15 7 |281 2 1½ | + | ” 1859 ” 1860 | 259·069|1,008 15 0 |240 16 3 | + | ” 1860 ” 1861 } | | | | + | ” 1861 ” 1862 } | 817·668|3,183 15 11 |729 19 10½ | + | ” 1862 ” 1863 | 636·395|2,477 19 3 |590 2 7 | + | ” 1863 ” 1864 | 629·815|2,452 6 10 |507 11 0 | + | ” 1864 ” 1865 | 464·080|1,807 0 3 |509 10 0 | + | ” 1865 ” 1866 | 585·622|2,280 5 4 |535 5 0 | + | ” 1866 ” 1867 | 37·440| 145 15 8 | Nil. | + | ” 1867 ” 1868 | 54·460| 212 1 0 | 71 10 6 | + | ” 1868 ” 1869 | 701·084|2,729 16 11 |788 7 4 | + +----------------------------+--------+---------------+-------------+ + +----------------------------+------------------+------------------+ + | Date. | Value of Waste | Value of Sweep | + | | per £1,000,000. | per £1,000,000. | + +----------------------------+------------------+------------------+ + | | £ _s._ _d._ | £ _s._ _d._ | + | Nov. 1851 to March 1852 | 259 18 10 | 97 1 9 | + | April 1852 to March 1853 | 435 13 8 | 59 9 11 | + | ” 1853 ” 1854 | 267 1 9 | 66 16 10 | + | ” 1854 ” 1855 | 275 11 1 | 66 2 6 | + | ” 1855 ” 1856 | 401 16 4 | 95 16 4 | + | ” 1856 ” 1857 | 410 13 10 | 96 0 3 | + | ” 1857 ” 1858 | 219 4 1 | 53 14 8 | + | ” 1858 ” 1859 | 337 19 7 | 80 12 6 | + | ” 1859 ” 1860 | 264 6 8 | 63 2 0 | + | ” 1860 ” 1861 } | | | + | ” 1861 ” 1862 } | 297 10 1 | 68 11 9 | + | ” 1862 ” 1863 | 270 12 9 | 64 9 0 | + | ” 1863 ” 1864 | 348 9 6 | 72 2 5 | + | ” 1864 ” 1865 | 238 1 2 | 67 2 5 | + | ” 1865 ” 1866 | 466 2 6 | 109 8 2 | + | ” 1866 ” 1867 | 212 18 6 | Nil. | + | ” 1867 ” 1868 | 427 3 6 | 144 1 9 | + | ” 1868 ” 1869 | 551 13 4 | 159 6 6 | + +----------------------------+------------------+------------------+ + C. W. FREMANTLE, DEPUTY-MASTER OF THE MINT. + ROYAL MINT, _2nd March_, 1870. + + +In November, 1863, Mr. John Graham was appointed; but he did not +interfere in the coining department until about March, 1864. The +disastrous effects of his mismanagement now became apparent, and the +losses have again made, it is to be feared, an habitual appearance. +In the first year of his efforts, the loss per million[64] became £22 +6_s._ 2_d._, the sweep selling for £38 18_s._ 6_d._, giving a gain of +£16 12_s._ 4_d._ only; in the next year, a gain of £25 14_s._ 7_d._; +and it was now determined, notwithstanding a written protest, that +the sweep and _scrap_ were not worth collecting, so they were lost. +The next two years exhibit absolute losses of £28 12_s._ 10_d._ and +£30 12_s._ 8½_d._ per million respectively, while in September, 1868, +a loss of 19·873 ounces is recorded as a balance; yet it is a fact +that no gold was ever produced to satisfy this balance, so that in my +opinion it will be correct to state that the loss is at the rate of +£70 14_s._ 5¾_d._ on each million coined. Unless upon the existence +of such facts, it is difficult to understand why the Mint authorities +should not publish annually an official statement of the loss or gain +made by coining gold and silver, as well as the amount coined; but, +that the whole details may be complete, it is now necessary to enter +upon the discussion of the melting-house accounts. The table on p. 96 +exhibits the operations of that department upon the same gold as that +just discussed. If, as in the case of the table relating to the coining +department, the total loss between November, 1851, and March, 1857, be +reduced by the value of the sweep sold, it will appear to be, on gold, +£11,599·825, and this divided by £40,345,185·450, the total sum coined, +will give an average loss of £280 7_s._ 8¾_d._ per million coined, +when, as was admittedly the case, the gold scissel was saturated to +dropping with oil.[64] Let us now see if this loss be increased by the +reduction of the amount of oil which was formerly sent to the melter on +the scissel. + +[Footnote 64: See page 90.] + +When in 1857-58 the loss by coining was put a stop to, and a gain was +produced, it was roundly asserted that the melter’s account would show +that the _loss_, so far from being stopped, had only been transferred +from one department to another; but by examining the table now under +discussion, it will be seen that when, in 1857-58,[65] the _gain_ of +£25 4_s._ 10½_d._ occurred in the coining department, so far from +there being a CORRESPONDING LOSS in the melting-house, that which had +averaged £280 7_s._ 8¼_d._, fell to £165 9_s._ 4¾_d._,[65]—as will +be seen by deducting the sweep sold from the loss recorded in the +year 1857-58. When, in the next year, the gain by coining rose to £50 +13_s._, the melter’s loss did not reach its former average amount, for +in that year, when he had as large an amount of brittle gold to contend +with as in 1858, his loss was £257 7_s._ 0¾_d._,[66] or still below the +old average; whereas, if from this period the loss be estimated, it +will be found that its average is £212 6_s._ 1_d._ per million coined, +as against £280 7_s._ 8¼_d._, or a clear saving of £68 1_s._ 7_d._ +effected by lessening the amount of oil on the scissel (explained at +page 87); and this amount may fairly be added to the total sum saved +per million coined, which will be for coining £494, for melting £68 +1_s._ 7_d._, making together £562 1_s._ 7_d._ on each million coined. +That the loss by melting should reach the extravagant sum of £212 +per million coined—Mr. Mathison, the contractor under the Company of +Moneyers, made an average loss of £112 only—can hardly be maintained +even in the Royal Mint; that it does occur is indisputable. The cause +for it is not far to seek; yet it is hardly within my scope in this +place to point out the means by which it should be reduced to within +the limit of £100, which is demonstrably the maximum limit it should be +permitted to reach. This, then, is the state of affairs as regards loss +by the coining of gold. + +[Footnote 65: See page 96.] + +[Footnote 66: See page 96.] + +Thus far I have considered the rate of loss at a period when such +loss was deemed to be _necessary_; its reduction when it was +demonstrated to be _unnecessary_, as resulting from preventible +causes, and, in continuation, the means whereby _loss should be +prevented to the establishment of the absolute profit_, if a correct +system be established throughout the Mint. I now proceed to show +the re-establishment of the old system of UNNECESSARY LOSS—loss +which should not and would not be permitted in any well-regulated +institution; but when men are permitted to travel at the expense of the +country to European Mints, with the simple object of finding reasons +why loss should arise, and authorities for its existence, we must hush +our surprise, and be thankful if that loss do not exceed the amount +heretofore reached. To me it appeared singular that the Mint Officials +should be present in the House of Lords and hear Lord Lansdowne state +from his place that “upon exact inquiry he had been assured that a +loss of one shilling on £100 was not an unreasonable sum,” without +subsequent protest against such a statement. It is more singular if +one should compare that estimated loss with what those Officials state +in their “Reports on European Mints;” but it is most singular, that by +studying the returns made by those Officials to the House of Lords, it +becomes apparent that throughout the whole affair there is exhibited +a great disregard of the exact truth. To make clear my view of the +case, I will adduce the three statements. Lord Lansdowne’s fixed sum +of a shilling on £100, is equivalent to £500 on a million; while Mr. +Fremantle, at page 7, “European Mints,” states that careful enquiry has +shown, that as regards melting “in all Mints, considerable allowance is +made for such loss, and that the ‘waste,’ shown to have existed of late +years in the English Mint has not been excessive.” The return shows +that between 1866-69 it averaged £296 per million.[67] Mr. Roberts +says: “In the English Mint the amount of loss on gold by melting is +considered to be 0·173 per mille, or a grain on the troy pound;” that +is to say, £173 on a million. Why cannot these Authorities agree? Lord +Lansdowne, of course, speaks on instructions received, probably from +Mr. Fremantle, who thus exhibits his inability to agree with himself, +and agreement with his fellow-traveller seems hopeless; for whereas Mr. +Fremantle reduces Lord Lansdowne’s loss from £500 to £296, Mr. Roberts +reduces the latter sum nearly 50 per cent., and states it at £173. + +[Footnote 67: See pages 97, 101.] + +I will now refer to the returns made to the order of the House of Lords +on the motion of Lord Kinnaird, and which, for this purpose, I have +printed on pages 91, 97, opposite the tables obtained from the same +source whence these returns were made. By the return (see page 97) the +Mint Authorities clearly admit that whereas the loss by melting was +in 1866-67 only £212 18_s._ 6_d._, it became, in 1867-68, £283 1_s._ +9_d._, and increased to £392 6_s._ 10_d._ in the subsequent year, as +will be seen if the value of the sweep be deducted from that of the +waste. It appears to me that such startling facts require attentive +enquiry, especially if it be borne in mind that the loss by melting +as shown in the return was so little as £165 9_s._ 5_d._ in 1857-58. +Since, however, it is now the custom in the Mint to pass the bars for +coining, directly from the melting-house to the coining department—in +accordance with the recommendation made by me in my Report to the +Master of the Mint dated 29th of January, 1859—so as to bring the whole +operation of coining under one responsible officer, as I therein urged, +it is but right I should give the Mint the benefit of any advantage +that can be obtained by a retrospective treatment of accounts, and +therefore I will refer to the table on page 101 which shows the final +result of operations conducted in the coining and melting departments. +In cases where gain was made by coining I will deduct such gain from +the loss by melting, and where loss by coining took place I will add it +to that by melting. Thus treated then, the loss by melting and coining +for 1866-67 becomes £241 11_s._ 4_d._, for 1867-68 £309 8_s._ 4_d._, +and for 1868-69 £319 9_s._ 1_d._, or a steadily increasing amount, as +will be seen subsequently on page 104. + +As regards loss on gold, enquiry would prove that a remarkable +oblivion to all carefulness or the principles of economy exists in +the minds of Mint Officials; for this noble metal, being one of the +most dense as well as one of the most valuable, can be packed away +into a small space; hence the utmost care, guided by knowledge of the +subject, is necessary if waste is to be prevented. To start with that +indisputable axiom, “matter cannot be lost,” is but to have the truth +placed in unmistakable language; yet by the return[68] made to Lord +Kinnaird’s motion a most startling contradiction to this truism is +brought to light. The Mint Authorities, from the time of the government +occupation of the Royal Mint, have manifestly _omitted_ to think that +“matter cannot be lost,” and they have assumed that the mere fact of +subdivision must entail loss; but this fallacy is at once dissipated +if Lord Kinnaird’s idea be adopted. He, in his speech in the House of +Lords, said: “If any of your lordships will place a thousand sovereigns +in a box, and cause the box to be shaken until the sovereigns have +reduced themselves to impalpable powder, and will then weigh the +dust—gold-dust—produced, it will be found that the dust now weighs the +exact weight of the sovereigns before shaking.” So apt an illustration +would be spoiled by comment, yet we find that the return (see page +102) exhibits the fact that the Mint has paid to the Bank of England +sums varying from £1,132 to as low as £161 for each million of gold +coined into sovereigns. Now the processes necessary to the conversion +of gold into sovereigns is merely one of subdivision—of less degree +than absolute powdering—therefore it is quite clear there can be no +loss of gold. If there be any missing, it is because it is misplaced. +Misplaced gold is practically lost, because Mint experiences appear to +be adverse to the finding of the place of secretion. By this return it +appears that the Mint has actually paid so large a total sum as £59,084 +1_s._ 4_d._, in seventeen years to the Bank of England for gold which +should have been returned to that institution. The Government of Mr. +Gladstone, professedly desiring to economise governmental expenditure, +permits this!!! + +[Footnote 68: See page 102.] + +While it is the opinion of the Government that LOSS IS REASONABLE, it +is hopeless to expect a stoppage of that which should not be permitted; +yet it is right to state that these losses are not only demonstrably +unnecessary, but that they have been proved by practice to be capable +of great reduction, as shown by the following table, compiled from the +returns before quoted on pages 91, 97. + +STATEMENT showing the ultimate Loss by Coining Gold, by Melting Gold, +and the Gain by Coining Gold, as also the absolute Loss resulting from +both operations, from 1851 to 1869. Compiled from the Returns for which +_Lord Kinnaird_ moved. + + AVERAGE RATE FOR EACH MILLION COINED. + + +---------------+---------------------+--------------------+ + | Date. | Ultimate _Loss_ by | Ultimate _Gain_ by | + |Financial Year.| Coining £1,000,000 | Coining £1,000,000 | + | | Gold. | Gold. | + +---------------+---------------------+--------------------+ + | | £ _s._ _d._ | £ _s._ _d._ | + |1851-1852 | 315 8 7 | | + |1852-1853 | 545 6 10 | | + |1853-1854 | 595 6 9 | | + |1854-1855 | 451 13 9 | | + |1855-1856 | 418 1 3 | | + |1856-1857 | 377 0 6 | | + |1857-1858 | | 25 4 10 | + |1858-1859 | | 50 12 11 | + |1859-1860 | 9 15 2 | | + |1860-1862 | 45 3 5 | | + |1862-1863 | | 51 0 3 | + |1863-1864 | | 91 5 1 | + |1864-1865 | | 16 12 4 | + |1865-1866 | | 25 14 7 | + |1866-1867 | 28 12 10 | | + |1867-1868 | 26 6 7 | | + |1868-1869 | | 72 17 9 | + +---------------+---------------------+--------------------+ + | Date. | Ultimate _Loss_ by | Ultimate _Loss_ by | + |Financial Year.| Melting Ingots, &c. | both Operations. | + | | for £1,000,000 Gold.| | + +---------------+---------------------+--------------------+ + | | £ _s._ _d._ | £ _s._ _d._ | + |1851-1852 | 162 17 1 | 478 5 8 | + |1852-1853 | 376 3 9 | 921 10 7 | + |1853-1854 | 200 4 11 | 795 11 8 | + |1854-1855 | 209 8 7 | 661 2 4 | + |1855-1856 | 306 0 0 | 724 1 3 | + |1856-1857 | 314 13 7 | 691 14 1 | + |1857-1858 | 165 9 5 | 140 4 7 | + |1858-1859 | 257 7 1 | 206 14 2 | + |1859-1860 | 201 4 8 | 210 19 10 | + |1860-1862 | 228 18 4 | 274 1 9 | + |1862-1863 | 206 3 9 | 155 3 6 | + |1863-1864 | 276 7 1 | 185 2 0 | + |1864-1865 | 170 18 9 | 164 6 5 | + |1865-1866 | 356 14 4 | 330 19 9 | + |1866-1867 | 212 18 6 | 241 11 4 | + |1867-1868 | 283 1 9 | 309 8 4 | + |1868-1869 | 392 6 10 | 319 9 1 | + +---------------+---------------------+--------------------+ + +RETURN FROM THE ROYAL MINT TO AN ORDER OF THE HOUSE OF LORDS, DATED +17TH FEBRUARY, 1870. THE LORD ROSSIE. + +A Statement showing the individual sums paid by cheque by the Master of +the Mint to the Bank of England in consideration of any loss or waste +by coining gold, by melting gold, and by assaying gold on each occasion +of a balance of accounts by those institutions between 1851 and 1869 +inclusive, specifying the proportional payments in relation to each +million coined during the several periods. + + -----------------+-----------------------+--------------+----------- + Date of Payment.| Period during which | Amount of | Rate of + | Waste occurred. | Cheque. | Waste per + | | | Million. + -----------------+-----------------------+--------------+----------- + | | £ _s. d._| £ _s. d._ + 1852, March 31st |From 11th July 1851 to | 890 1 5 | 649 0 0 + | 31st March 1852 | | + -----------------+-----------------------+--------------+----------- + ” August 26th|From 1st April to 30th | 1,926 10 5 | 951 0 0 + | June 1852 | | + -----------------+-----------------------+--------------+----------- + ” December 6th|From 1st July to 30th | 2,051 16 9 | 882 0 0 + | September 1852 | | + -----------------+-----------------------+--------------+----------- + 1853, June 17th |From 1st October to | 3,209 8 2 | 995 0 0 + | 31st December 1852 | | + -----------------+-----------------------+--------------+----------- + ” July 8th |From 1st January to | 5,270 1 3 |1,132 0 0 + | 31st March 1853 | | + -----------------+-----------------------+--------------+----------- + ” September |From 1st April to 30th | 4,564 0 0 |1,026 0 0 + 30th | June 1853 | | + -----------------+-----------------------+--------------+----------- + ” December |From 1st July to 30th | 1,147 5 2 |1,112 0 0 + 30th | September 1853 | | + -----------------+-----------------------+--------------+----------- + 1854, August |From 1st October 1853 | 4,583 0 0 | 878 0 0 + 30th | to 30th June 1854 | | + -----------------+-----------------------+--------------+----------- + 1856, May 2nd |From 1st July 1854 to | 8,685 14 3 | 895 0 0 + | 31st December 1855 | | + -----------------+-----------------------+--------------+----------- + 1857, June 12th |From 1st January 1856 | 5,265 6 0 | 803 0 0 + | to 30th May 1857 | | + -----------------+-----------------------+--------------+----------- + 1858, May 5th |From 1st June 1857 to | 1,110 14 7 | 230 0 0 + | 31st March 1858 | | + -----------------+-----------------------+--------------+----------- + 1860, March 12th |From 1st April 1858 to | 1,282 16 7 | 360 0 0 + | 30th June 1859 | | + -----------------+-----------------------+--------------+----------- + ” June 27th |From 1st July 1859 to | 1,084 6 3 | 347 0 0 + | 31st March 1860 | | + -----------------+-----------------------+--------------+----------- + 1862, August 29th|From 1st April 1860 to | 4,272 11 7 | 389 0 0 + | 31st August 1862 | | + -----------------+-----------------------+--------------+----------- + 1863, March 30th |From 1st September 1862| 1,766 14 8 | 350 0 0 + | to 31st December 1862 | | + -----------------+-----------------------+--------------+----------- + ” June 3rd |From 1st January to | 606 19 4 | 161 0 0 + | 31st March 1863 | | + -----------------+-----------------------+--------------+----------- + 1864, September |From 1st April 1863 to | 2,584 11 11 | 281 0 0 + 6th | 31st July 1864 | | + -----------------+-----------------------+--------------+----------- + 1865, March 29th |From 1st August 1864 to| 1,320 16 9 | 419 0 0 + | 31st December 1864 | | + -----------------+-----------------------+--------------+----------- + ” October |From 1st January to | 438 6 3 | 169 0 0 + 19th | 30th September 1865 | | + -----------------+-----------------------+--------------+----------- + 1866, July 4th |From 1st October 1865 | 2,633 13 2 | 485 0 0 + | to 30th June 1866 | | + -----------------+-----------------------+--------------+----------- + 1867, December |From 1st July 1866 to | 227 5 10 | 457 0 0 + 12th | 30th November 1867 | | + -----------------+-----------------------+--------------+----------- + 1869, November |From 1st December 1867 | 4,162 1 0 | 461 0 0 + 30th[69] | to 30th November 1869 | | + | +--------------+ + | £ 59,084 1 4 | + -----------------+--------------------------------------+----------- + C. W. FREMANTLE, DEPUTY-MASTER AND COMPTROLLER. + ROYAL MINT, _2nd March, 1870_. + +[Footnote 69: A coinage having been in progress on the 31st of March, +1869, no waste account was made up at the close of the financial year +1868-69.] + +In this table (page 101) care has been taken to remove every item +which can mislead, and therefore the ultimate or absolute loss to the +Mint is alone put forward; and while the subsequent table (page 102) +shows the money and its rate per million actually paid to the Bank for +loss; this shows the internal accounts of the operative departments in +the Mint only, so that every item which can reduce the loss has been +admitted, and it is therefore necessary to point out that each sum +exhibited in the last column as the ultimate loss by both operations, +is the rate for each million coined, all being under precisely similar +circumstances in every respect. I have excluded loss by assay. + +If this table (page 101) be examined, it will be seen that between 1851 +and 1857 there was an invariable statement of loss by coining; then +between 1857 and 1859 a period of gain; to be followed in the next two +periods, 1859 to 1862, by loss, which was again overcome; and for the +next four years a varying gain, alternated by two years of loss, and +followed finally by another statement of gain. + +Enquiry may fairly be made why, if up to 1857 loss had been permitted, +gain could subsequently be established. The reply is, that the +management of the coining department was placed under myself by Mr. +Graham, and I acted firmly on my belief that “matter cannot be lost;” +hence, if the accounts were short, I made the men hunt the floors—not +the chimneys—carefully until the gold was found. + +The Master of the Mint then discouraged my efforts, and the result +was rapidly increasing loss, until I placed on the Master[70] the +responsibility of such loss, when there returned four years of gain, +thus once more proving that under proper management loss would not +occur; but from this period I was removed from responsible management, +and the result was a return to the habitual loss. This would appear to +have been overcome in the year 1868-1869, for in that year a gain to +the extent of £72 17_s._ 9_d._ (see Return, page 91) is exhibited. It +will be necessary to examine this gain to see how far it is real, and +the proof is at hand that it is obtained under false pretences. + +For special reasons which are not exhibited,[71] the figures relating +to 1851-1852 on the table at page 96 are fictitious; the fact being +that losses which should have been stated are excluded. If, however, +the table from 1852 to 1869 be examined it will be observed that the +ultimate loss by melting varies considerably, but that in the year +1857-1858 it fell to £165 9_s._ 5_d._, while in that year a gain was +made by coining to the extent of £25 4_s._ 10_d._[72] This gain being +deducted from the loss by melting, leaves a final loss of £140 4_s._ +7_d._, as will be seen in the last column at page 101. To test then +the gain shown in 1868-69 by the same rule, it will be observed that +while the coining department (see page 101) made a profit of £72 +17_s._ 9_d._,[73] the loss by melting was £392 6_s._ 10_d._, or higher +in amount than it has been in _any previous year_, so that the gain +claimed for coining is _false_—it has not arisen—it is a STATEMENT OF +ACCOUNTS, obtained by sending inaccurate weights of bullion to the +melter, and thus shifting to that department the loss which fairly +belonged to the coiner. The same remark applies to the year 1865-1866, +when it will be seen that the system of loss fairly reset in. + +[Footnote 70: See page 94.] + +[Footnote 71: See page 83.] + +[Footnote 72: See page 90.] + +[Footnote 73: See also page 91.] + +BONA FIDE GAIN BY COINING GOLD IN ITS FINAL OUT-TURN is only to be +obtained by the possession of a firm belief in the impossibility +of legitimate loss, and by entrusting the operations of coining to +such men as appreciate the fact that it is atoms which build up the +universe. I proved, and maintained my assertion for years, that there +should be no loss, but on the other hand gain, by coining gold, and +this I did with a reduction in the loss by melting to a lower point +than has ever before or since been known, and with a total loss from +both causes of only £140 4_s._ 7_d._ (see pages 101-102); and, had +occasion served, it was always intended that I should direct the +melting of gold as I had done that of silver,[74] for as I had clearly +shown that coining could be fairly conducted without loss, the Master +was to have given me an opportunity to show the same facts in melting. + +Of this loss of £140 4_s._ 7_d._ in the final out-turn of gold, it +should be explained that at that date the system of weighing to and +from the bank was such that there was on that coinage a difference of +weighing _against the Mint_ of £75 on each million, so that had just +weighments been made, my loss from all causes being reduced by that +amount would have been £65 4_s._ 7_d._ on each million coined. + +With such facts established and stated in the return to the House of +Lords, it is at least singular that Lord Lansdowne should support his +assertion that 1_s._ on £100 is a moderate and fair loss, by stating +that this is also the opinion of eminent refiners in London. In my +experience refiners do not know what their losses are, for their +customers bear them. By special agreement with Sir A. Rothschild, the +Mint pays 4_d._ per ounce on the total sent for refining, and receives +back all the gold and silver; but the general public, by previous +agreement, submit to a deduction of weight, and thus pay the expenses +of refining. Mr. Graham, in his paper published after his brother’s +failure to conduct the gold coinage as I had done, fixed the loss at +£300 on a million. Lord Lansdowne now fixes it at 1_s._ on £100; that +is, at the rate of £500 on a million; and this sum is being rapidly +approached, for Lord Kinnaird’s return shows that for the past three +years it has averaged £464.[75] And since such a loss is to be borne +and pleasantly spoken of by _Mr. Lowe_, the Master of the Mint, as +“going up the chimney,” it is well to see if that can take place. + +[Footnote 74: See page 136.] + +[Footnote 75: See page 102.] + +The volatilization of gold and silver requires an extremely high +temperature. This temperature is never reached in melting the precious +metals for coinage; therefore vapour of gold or of silver cannot by +any possibility be conveyed into the chimney; consequently, cannot +be found there. That this statement is true, has been demonstrated +satisfactorily in Brussels, where the chimneys were discreetly +searched to find the silver which the contractors were informed would +be found: the chief contractor assured me that they failed to find +the most minute trace of either silver or gold. Yet Mr. Roberts, +at page 23, “European Mints,” says, “The precious metals actually +volatilized may be arrested by condensation. This point has received +much attention in the Roman Mint, where the flues of the gold melting +furnaces have been placed in communication with condensing chambers +of simple construction, the adoption of which has been attended with +very satisfactory results.” On page 17 he has already said “I strongly +recommend that a condensing chamber be attached to the flues of the +gold melting furnaces. Such chambers have not hitherto been used in +the Mint in this country, but their advantage has been proved in the +Roman Mint, where they have been the means of effecting a considerable +saving.” + +It is with regret that one sees men entrusted with the control of so +great a work as our coinage, making propositions on the authority of +the Roman Mint, whose gold coinage is perhaps the smallest in Europe. +If, however, Mr. Roberts should conduct on a large scale the plan _he +has devised_ for removing the obnoxious properties from brittle gold, +these chambers may become useful. In the meantime the present Mint +chimneys have the accumulations of more than sixty years, and it would +be quite worth while to pull them down and obtain the £59,000[76] which +the Mint admits to have lost (see page 101). Are the chimneys lined +with finely-divided gold, or does that metal accumulate in ingots? +if the latter be the case, their draught must be slightly impeded, +for fifty-nine thousand pounds worth of gold would more than fill an +imperial bushel; in the popular view a “thousand sovereigns fill a +quart measure.” If Mr. Roberts should fail to find any trace of gold, +he can re-consider his proposition; should he, however, find the sum +which has been supposed to be lost, that treasure will pay the cost of +new chimneys. + +[Footnote 76: See page 102.] + +If, instead of Lord Lansdowne appealing to Lord Kinnaird’s generosity +to leave unsaid things which should be said, his Lordship would +refute the facts and figures which Lord Kinnaird places before their +Lordships’ House, it seems probable that the question would be +settled; but while Lord Lansdowne simply pleads that “the person who +supplies information to Lord Kinnaird is only a dismissed clerk,” +it becomes manifest that the facts placed before Lord Kinnaird are +awkward to contradict, and still more awkward to explain, except by +the painful delusion Lord Lansdowne adopts—that “his lordship confuses +the accounts.” It may fairly be admitted that the accounts furnished +by the Mint Authorities to the House of Commons are stated in such a +manner that bankers and merchants find it impossible to comprehend +them, and to arrive at their meaning, more than one banker in London +_has applied to me_ to unravel those statements which have been +characterised as “such that if our younger clerk were to present them +he would be dismissed our service.” Still, that Lord Kinnaird has not +fallen into this error has, it is hoped, been now made fully manifest. +Lord Lansdowne, in continuation, stated that “the author of this book +appears to have left unnoticed the losing operations in the Mint, and +Lord Kinnaird seems to have fallen into the trap.” Had Lord Lansdowne +looked into the book he thus criticized, he would have found that +each process of gain and loss is treated at considerable length, but +none with more detail than the processes of the melting both for gold +and silver, as he will learn if he will refer to the book, now out of +print, but a copy of which is in the Mint Library—for gold melting, +at pages 69, 74, 81, 82, 83; and for silver melting, at pages 101, +104, 109, 111, where it will be clearly seen that these losses are +dwelt upon and shown to be inexcusable. The returns upon which I have +thus commented are also of importance as introducing a new system in +accounts—that of altering such accounts without reason assigned or +explanation given. If the return on page 91 be examined for the year +April 1867 to March 1868, it will be seen that a variation exists +between it and my table on page 90; for whereas I state the value +of the coinage for that year at £426,677 12_s._ 1¾_d._ and the loss +at 3·357 ounces, or at the rate of £30 12_s._ 8¼_d._ on the million +coined, the return states the money coined at £496,397 17_s._ 11_d._; +and leaving unaltered the _amount of loss_, shows it to be at the rate +of £26 6_s._ 7_d._ per million coined, a similar alteration has been +made in the account of the melting department. Seeing that my figures +were those supplied by the then Deputy Master to the late Master of +the Mint, I cannot comprehend why those accounts should be issued by +Mr. Fremantle, who has entered the Mint since that gentleman’s death, +with a variation in the figures, but I shall presently show that such a +proceeding is not confined to this one transaction. + +While the subject of accounts is under notice, I think it right to +observe upon a passage in Mr. Fremantle’s “Report on European Mints,” +at page 7, in which that gentleman says— + + “I propose, also, that the ‘sweep,’ under which term are + comprised dust collected from the floors, carbonaceous + deposits from flues, ground-up crucibles, &c., should be + treated in the Mint, instead of being sold, as at present, + to the highest bidder. It will be important to determine + what metallurgical process should be adopted with a view + of carrying this intention into effect; but the step + cannot fail to be advantageous to the Mint, not only as + tending to economy, but also more especially as enabling + the _department to substitute a real for a fictitious + statement of ‘waste,’ the regulations of the public + service_ NOT ALLOWING THE PROCEEDS OF THE ‘SWEEP’, + _when sold to the public, to be brought to account_ + AS A SET-OFF AGAINST THE GROSS AMOUNT OF LOSS.” + +that while I quite appreciate his thus carrying out the suggestion I +never ceased to urge, I do object to his stating that which is hardly +true as indicated by the passages I have marked. Such a statement must +have been a slip of the pen, as it is but necessary to refer to the +returns made to the House of Lords[77] to exhibit the fact that these +accounts are now kept and actually published to Parliament, and in my +own knowledge, those returns are accurate—not false—for I saw much of +the money paid for the sweep, which I delivered to the purchasers on +the authority of Mr. Barton. There is no sense in which these returns +can be said to be false unless in the one year I have pointed out. If +they be false, is it not a serious matter for any one to sign his name +and submit them as accurate to Parliament? + +Let us, then, turn to the accounts, and see how far the other expenses +are unnecessarily inflated—and why? In such a consideration it will be +necessary to revert, as in the case of losses, to the earlier periods +of the Government occupation of the Mint; and, without going too far +into details, it may be stated that the average amount of _rejected +work_ (see page 44) reached, in some instances, 70 per cent.; but if +the averages for sovereigns be taken as extending over long periods, a +good general knowledge may be gained, thus:— + +In 1855, between June 6th and August 13th, the highest was 40·51 per +cent., the lowest 13·13 per cent., the mean of 41 days giving 21·49 per +cent.; while, at that period, the coined money was 43·53 per cent. on +the clean bars. + +In 1856, from January 2nd to January 22nd inclusive (18 working days), +the highest was 21·48 per cent., the lowest 12·72 per cent., the mean +of 18 days giving 18·51 per cent.; while, at that period, the coined +money was 38·39 per cent. on the clean bars. + +In 1856, during a short coinage I reduced its average amount to 13·78 +per cent., the coined money increasing to 41·74 per cent. on the clean +bars; but, as shown at page 92, this improved in 1857 to 6·99 per +cent., while the coined money rose to 57·26 per cent. on the clean bars. + +In 1860, from January 4th to February 18th inclusive (41 days), the +highest was 7·71 per cent., the lowest 2·33 per cent.; the mean of 41 +days was 4·11 per cent., which by the file was reduced to 2·07 per +cent.;[78] while, at that period, the coined money was 57·43[79] per +cent. on the clean bars. + +[Footnote 77: See pages 91, 97, 133, 135.] + +[Footnote 78: See Master’s Letter to Treasury, page 179.] + +[Footnote 79: See my Report to the Master of the Mint, March 8, 1860.] + +Before arriving at definite conclusions as regards the amount of +rejected work, it will be necessary to understand that up to the 2nd +of August, 1861, the remedy[80] allowed in practice was 0·30 grain, +and that in proportion as the remedy is reduced, the amount of rejected +is increased; it is also the case that when work is good all the +blanks or coins approach the standard weight, but when it is bad they +as invariably go to the side or margin of the remedy. The following +table exhibits the amount per cent. of rejected work[81] which took +place, with the various remedies; and these facts once determined, are +to be remembered, because the rejected will in all cases bear these +proportions to each other. In this table sovereigns are alluded to. + +[Footnote 80: See Remedy explained at page 39.] + +[Footnote 81: See page 44.] + + REMEDY IN PARTS OF A GRAIN. + +----------------+------+------+------+------+------+------+------+ + | | 0·30 | 0·25 | 0·24 | 0·23 | 0·22 | 0·21 | 0·20 | + | |Grain.|Grain.|Grain.|Grain.|Grain.|Grain.|Grain.| + +----------------+------+------+------+------+------+------+------+ + |Average in 1860 |4·00 | 8·00 | ... | ... | ... | ... |12·00 | + | ” 1861 |... |10·00 |13·00 |15·00 |15·00 |18·00 |19·00 | + | ” ” |5·10 |10·50 | ... | ... | ... | ... |19·66 | + +----------------+------+------+------+------+------+------+------+ + +These considerations had no weight when the Coinage Bill was being +hurriedly passed—at late hours, so as to avoid discussion on its +clauses—by the House of Commons. It in due course reached the House +of Lords, where Lord Kinnaird moved a clause—which would have been +greatly to the benefit of the Mint had it been adopted—to the effect +that the remedy on the individual piece should be 0·2568 grain; that +is—the remedy from the old scale under the Mint Indenture proportioned +to one coin. This Coinage Bill introduced a new principle, and it would +have been wise had it given the Mint every chance of success. Instead, +however, of proceeding cautiously, his lordship’s motion was rejected +and the remedy declared fixed at 0·2000 grain, thus necessitating the +use of a working remedy of 0·1700 grain, or perhaps 0·1500 grain, and +the consequent rejection for re-melting of “_only_ 15½ per cent. of +the whole of the money coined.” My experience tells me, more probably +of about 35 per cent.; but upon this head I will allow Mr. Napier to +speak. He says, “Indeed, roundly taken, the returns to the crucible +may be put at nearly 50 per cent.; so that to produce a given weight +of finished coin, something like double the weight of metal must be +melted. So long as this state of things lasts, the process up to the +formation of the blank must be regarded as imperfect.” It is not the +_process that fails_, it is the want of power _to conduct that process_ +which causes so candidly admitted a continuation of the fatal system +re-introduced by Mr. John Graham. + +The proportioned legal remedy was 0·2568 grain. Now we can only wish +to be within the law. If, therefore, 0·25 grain had been adopted as +a _working remedy_, the automaton balances are so accurate that no +piece could ever be found beyond the remedy, on either side, and an +immense expense would be saved in labour alone, for the rejected +goes to the melting-pot; yet, owing to a mistake on the part of the +Bank of England, 0·20 grain was used in 1861, but under my urgent +representation this was relaxed because of the extravagant expense, and +for some years 0·24 grain was used, in accordance with the following +order from the Master:—“Mr. Ansell is requested to increase the remedy +on sovereigns from 0·20 grain to 0·24 grain, and the half-sovereigns in +a similar proportion.—14th of August, 1861. (Signed) THOMAS GRAHAM.” +Under other management, since the early part of 1868, the working +remedy has been reduced to 0·15 grain. Such useless waste, it is to be +hoped, has only to be pointed out that this clause of the New Coinage +Act may be repealed. + +Following these considerations, the next table will show the rate +per cent. of rejected sovereigns and half-sovereigns, as well as the +remedies practically employed in regular work. They are, in all cases, +the average results of whole coinages of each specific year mentioned. + + +------+---------+---------+-----------------------+--------------+ + | | | | By Filing Metal | | + | | | | from the Edges of | | + | | | | the Heavy Blanks | | + | | | | they were reduced | Sovereigns | + | | | Half- | to the Standard | coined (that | + |Date. |Sovereign|Sovereign| Weight when the | is, weighed | + | | Blanks. | Blanks. | original rate |after the Coin| + | | | | per cent. | was struck, | + | | | | was reduced to, | so the heavy | + | | | | on | were melted).| + | | | +-----------+-----------+ | + | | | |Sovereigns.| Half- | | + | | | | |Sovereigns.| | + +------+---------+---------+-----------+-----------+--------------+ + | |Per Cent.|Per Cent.| Per Cent. | Per Cent. | Per Cent. | + | 1855 | 21·49 | 32·29 | ... | ... | ... | + | 1856 | 14·50 | 20·04 | ... | ... | ... | + | 1857 | 7·44 | 16·13 | ... | ... | ... | + | 1858 | 4·50 | 11·16 | ... | ... | ... | + | 1859 | 5·67 | 8·86 | 4·14 | 5·52 | ... | + | 1860 | 3·62 | 10·08 | 1·69 | 4·65 | ... | + | 1861 | 5·75 | ... | 3·36 | ... | ... | + | ” | 21·43 | ... | 12·22 | ... | ... | + | ” | 16·07 | ... | 6·68 | ... | ... | + | 1862 | 9·48 | 17·06 | 3·37 | 11·53 | ... | + | 1863 | 9·68 | ... | 4·25 | ... | ... | + | ” | 18·76 | 18·08 | ... | 11·69 | ... | + | ” | 18·76 | ... | 6·76 | ... | ... | + | ” | ... | 28·79 | ... | 12·86 | ... | + | 1864 | 15·15 | 28·27 | 5·07 | 12·79 | ... | + | ” | ... | ... | ... | ... | 5·74 | + | 1865 | ... | ... | ... | ... | 6·61 | + | 1866 | ... | ... | ... | ... | 9·87 | + | 1867 | ... | ... | ... | ... | ... | + | 1868 | ... | ... | ... | ... | 17·82 | + +------+---------+---------+-----------+-----------+--------------+ + +------+------------+----------------------------+-----------------+ + | | | | | + | | | | | + | | Half- | | | + | | Sovereigns | | | + | |coined (that| Remedies employed on | Remedies | + |Date. | is, weighed| Sovereigns | employed | + | | after the | on each piece. | on Half- | + | | Coin was | | Sovereigns | + | | struck, so | | on | + | | the heavy | | each piece. | + | | were | | | + | | melted). | | | + | | | | | + +------+------------+----------------------------+-----------------+ + | | Per Cent. | Parts of a Grain. |Parts of a Grain.| + | 1855 | ... | ... | ... | ... | 0·30 | ... | 0·15 | + | 1856 | ... | ... | ... | ... | 0·30 | ... | 0·15 | + | 1857 | ... | ... | ... | ... | 0·30 | ... | 0·15 | + | 1858 | ... | ... | ... | ... | 0·30 | ... | 0·15 | + | 1859 | ... | ... | ... | ... | 0·30 | ... | 0·15 | + | 1860 | ... | ... | ... | ... | 0·30 | ... | 0·15 | + | 1861 | ... | ... | ... | ... | 0·30 | ... | ... | + | ” | ... | ... | 0.20 | ... | ... | ... | ... | + | ” | ... | ... | ... | 0·24 | ... | ... | ... | + | 1862 | ... | ... | ... | 0·24 | ... | 0·12 | ... | + | 1863 | ... | ... | ... | 0·24 | ... | ... | ... | + | ” | ... | ... | ... | ... | ... | 0·12 | ... | + | ” | ... | ... | ... | 0·24 | ... | ... | ... | + | ” | ... | ... | ... | 0·24 | ... | 0·12 | ... | + | 1864 | ... | ... | ... | 0·24 | ... | 0·12 | ... | + | ” | 14·76 | ... | ... | 0·24 | ... | 0·12 | ... | + | 1865 | 12·60 | ... | ... | 0·24 | ... | 0·12 | ... | + | 1866 | 15·64 | ... | ... | 0·24 | ... | 0·12 | ... | + | 1867 | 20·28 | ... | ... | ... | ... | 0·12 | ... | + | 1868 | ... | 0·15 | ... | ... | ... | ... | ... | + +------+------------+------+-------+------+------+--------+--------+ + +It will thus be seen that of the whole mass of gold coined in 1868, +17·82 per cent. of sovereigns and 20·28 per cent. of half-sovereigns +went respectively to the melting-pot—a state of things which no +contractor would tolerate for a week; yet this waste has continued +throughout 1870. Now, there can be no reason why the bullion should not +again be weighed in the form of blanks, and the heavy blanks reduced +by the file, as they were in former days; for it must be remembered +that that file[82] has met with approval and adoption by the highest +authorities on coining in their respective mints, and there is manifest +folly and waste in sending fully 50 per cent. more rejected work to +the melter than is absolutely necessary. These remarks will be more +impressive if the table of rejected work be examined for 1861, where +it will be seen that, with a remedy of 0·30 grain, the rejected was +5·75, reduced to 3·36 per cent., whereas it immediately went up to +21·43, reduced to 12·22 per cent., when, on the 2nd of August, the +remedy was reduced to 0·20 grain; and that on the 14th of August, when +the remedy was increased to 0·24 grain, the rejected became 16·07, and +was reduced to 6·68 per cent., these being the figures obtained by +the total amounts passed through all the automaton machines. We will +next, then, see the effect of this extravagance in manufacture on the +total out-turn of coin, because this is the final test of the cost of +manufacture, it being readily understood that if 17 per cent. of the +whole coinage be remelted, whereas 2·07 per cent. used to suffice, +there must of necessity be a clear waste of labour to the extent +of 15 per cent. Therefore, not only is unnecessary labour exacted, +but also a large additional loss by melting is—under the present +Authorities—incurred, as well as the loss by coining (see pages 101, +103). Having considered this, it will be fitting that the subject of +wages paid to workmen shall receive attention, as a means to arrive at +the cost of coining a sovereign, and which, it may be here stated, has +been by others estimated at far too high a sum. + +[Footnote 82: See pages 44-45.] + +In discussing, then, the amount of coined money obtained from gold +bars, it will be necessary to enter into details of figures, and +to show not only the rate per centum of coin obtained from bars as +forwarded by the melter, but also the rate obtained from the clean +bars—that is, from bars whose ends have been sheared off, and from +the total weight of which the brittle bars and stopped pots have +been deducted, thus leaving none but solid workable bars called, in +practice, “clean bars,” as against the rough bars, which, indeed are +rough enough to deserve that title. + +STATEMENT SHOWING THE RATE PER CENTUM OF MIXED COIN FROM ROUGH BARS OF +GOLD, AND THE RATE PER CENTUM OF SOVEREIGNS AND HALF SOVEREIGNS FROM +THOSE RESPECTIVE BARS. THE BRITTLE BARS AND STOPPED POTS ARE DEDUCTED. + + +-----------------------------+-----------+-----------+------------+ + | Coinage | | | Rate | + | conducted between |Mixed Bars,|Mixed Coin.|per cent. on| + | the Periods:— | “Rough.” | |Mixed Bars. | + | | | | | + +-----------------------------+-----------+-----------+------------+ + | | Ounces. | Ounces. | | + |November 1856 to April 1857 | 1,103,403 | 456,575 | 41·37 | + |October 1857 to March 1858 | 2,280,033 | 1,238,171 | 54·24 | + |November 1858 to June 1859 | 1,955,961 | 915,530 | 46·80 | + |January 1860 to March 1860 | 1,460,209 | 802,847 | 54·28 | + |January 1861 to April 1861 | 1,707,098 | 862,329 | 50·51 | + |June 1861 to March 1862 | 4,448,353 | 1,874,885 | 42·14 | + |May 1862 to March 1863 | 4,534,377 | 2,354,805 | 51·93 | + |October 1863 to June 1864 | 4,946,697 | 2,323,238 | 46·96 | + |October 1864 to December 1864| 1,981,150 | 958,354 | 48·87 | + |January 1865 to August 1865 | 1,129,772 | 518,673 | 45·91 | + |November 1865 to May 1866 | 3,580,017 | 1,396,567 | 39·29 | + |April 1867 to June 1867 | 305,418 | 127,576 | 41·77 | + |July 1868 to August 1868 | 678,976 | 280,993 | 41·38 | + +-----------------------------+-----------+-----------+------------+ + +-----------------------------+---------+----------+------------+ + | Coinage |Sovereign| | Rate | + | conducted between | Bars, |Sovereigns|per cent. on| + | the Periods:— |“Rough.” | Coined. | Sovereign | + | | | | Bars. | + +-----------------------------+---------+----------+------------+ + | | Ounces. | Ounces. | | + |November 1856 to April 1857 | 480,704| 288,592 | 60·03 | + |October 1857 to March 1858 |2,133,366|1,168,227 | 54·29 | + |November 1858 to June 1859 |1,341,862| 592,325 | 44·14 | + |January 1860 to March 1860 |1,185,227| 657,362 | 55·46 | + |January 1861 to April 1861 |1,402,538| 717,010 | 51·12 | + |June 1861 to March 1862 |4,448,353|1,874,885 | 42·14 | + |May 1862 to March 1863 |4,237,267|2,220,713 | 52·40 | + |October 1863 to June 1864 |4,557,216|2,166,112 | 47·53 | + |October 1864 to December 1864|1,713,659| 847,357 | 49·44 | + |January 1865 to August 1865 | 779,345| 373,340 | 47·90 | + |November 1865 to May 1866 |2,676,226|1,041,926 | 38·11 | + |April 1867 to June 1867 | ... | ... | ... | + |July 1868 to August 1868 | 678,976| 280,993 | 41·38 | + +-----------------------------+---------+----------+------------+ + +-----------------------------+----------+----------+--------------+ + | Coinage | Half | Half | Rate | + | conducted between | Sovereign|Sovereigns| per cent. on | + | the Periods:— | Bars, | Coined. |Half Sovereign| + | | “Rough.” | | Bars. | + +-----------------------------+----------+----------+--------------+ + | | Ounces. | Ounces. | | + |November 1856 to April 1857 | 622,699 | 167,983 | 26·97 | + |October 1857 to March 1858 | 146,667 | 69,944 | 47·68 | + |November 1858 to June 1859 | 614,099 | 323,203 | 52·63 | + |January 1860 to March 1860 | 274,982 | 145,400 | 52·87 | + |January 1861 to April 1861 | 304,560 | 145,319 | 47·71 | + |June 1861 to March 1862 | | | | + |May 1862 to March 1863 | 297,110 | 134,092 | 45·13 | + |October 1863 to June 1864 | 389,481 | 157,125 | 40·34 | + |October 1864 to December 1864| 267,491 | 110,986 | 41·48 | + |January 1865 to August 1865 | 350,427 | 145,332 | 41·47 | + |November 1865 to May 1866 | 903,791 | 354,640 | 39·23 | + |April 1867 to June 1867 | 305,418 | 127,576 | 41·77 | + |July 1868 to August 1868 | | | | + +-----------------------------+----------+----------+--------------+ + +STATEMENT SHOWING THE GOLD BARS USED IN EACH COINAGE FROM NOVEMBER, +1856, TO AUGUST, 1868, AND THE RATE PER CENTUM OF ENDS, OF MIXED GOLD +COIN, AND OF SOVEREIGNS AND HALF SOVEREIGNS PRODUCED FROM THOSE BARS. + + +-----------------------------+-----------+---------+---------+ + | | | | | + | Coinage |Mixed Bars,| Ends |Sovereign| + | conducted between | “Clean.” |cut from | Bars, | + | the Periods:— | | Bars. | “Clean.”| + | | | | | + +-----------------------------+-----------+---------+---------+ + | | Ounces. |Per Cent.| Ounces. | + |November 1856 to April 1857 | 1,057,776 | 4·13 | 460,851| + |October 1857 to March 1858 | 2,192,798 | 3·82 |2,051,872| + |November 1858 to June 1859 | 1,798,717 | 4·41 |1,210,447| + |January 1860 to March 1860 | 1,414,516 | 3·13 |1,148,130| + |January 1861 to April 1861 | 1,619,251 | 5·14 |1,330,448| + |June 1861 to March 1862 | 4,215,722 | 5·22 |4,215,722| + |May 1862 to March 1863 | 4,351,531 | 4·03 |4,066,506| + |October 1863 to June 1864 | 4,566,032 |[83]7·60 |4,261,432| + |October 1864 to December 1864| 1,851,724 | 6·48 |1,602,533| + |January 1865 to August 1865 | 1,047,901 | 7·24 | 722,921| + |November 1865 to May 1866 | 3,336,536 | 6·80 |2,494,243| + |April 1867 to June 1867 | 291,696 | 4·50 | .. | + |July 1868 to August 1868 | 612,857 | 9·57 | 612,857| + +-----------------------------+-----------+---------+---------+ + +-----------------------------+--------+---------+--------+--------- + | | Half | Mixed | Sover- | Half + | Coinage | Sover- | Coin, | eigns |Sovereigns + | conducted between | eign |including| from | from + | the Periods:— | Bars, | Pyx | “Clean”| “Clean” + | |“Clean.”| Pieces. | Bars. | Bars. + +-----------------------------+--------+---------+--------+--------- + | | Ounces.|Per Cent.|Per Cent|Per Cent. + |November 1856 to April 1857 | 596,925| 43·16 | 62·62 | 28·12 + |October 1857 to March 1858 | 140,926| 56·39 | 56·93 | 49·63 + |November 1858 to June 1859 | 588,269| 50·89 | 48·93 | 54·94 + |January 1860 to March 1860 | 266,386| 56·75 | 56·43 | 54·54 + |January 1861 to April 1861 | 288,803| 53·18 | 53·88 | 50·03 + |June 1861 to March 1862 | ... | ... | 44·47 | + |May 1862 to March 1863 | 285,025| 54·03 | 54·60 | 47·39 + |October 1863 to June 1864 | 304,600| 50·88 | 50·82 | 51·25 + |October 1864 to December 1864| 249,191| 51·75 | 52·87 | 44·53 + |January 1865 to August 1865 | 324,980| 49·49 | 51·64 | 44·72 + |November 1865 to May 1866 | 842,293| 41·80 | 41·77 | 42·10 + |April 1867 to June 1867 | 291,696| ... | ... | 43·70 + |July 1868 to August 1868 | ... | ... | 45·84 | + +-----------------------------+--------+---------+--------+--------- + +[Footnote 83: See pages 46, 92.] + +The half-sovereigns shown in this table (page 111) at 26·97 per cent. +were coined in November, under the old system, but they are placed here +that these returns may be accurate. The effect of the reduction of the +remedy from 0·30 to 0·20 grain (which has been explained at page 107) +is evidenced in the amount of coin obtained in the period—June, 1861, +to March, 1862; yet it is fair to admit that some of this gold was +exceptionally bad, for the Bank of England, finding that the bad gold +of 1859 had been coined, paid the Mint the compliment to send at this +period some of a singularly rotten character, with an appearance almost +woolly; and if reference be made to the table of rejected at page 109, +this gold will be seen to have produced, with a remedy of 0·24 grain, +16·07, reduced to 6·68 per cent., over the remainder of the coinage, +thus making the disastrous effect of the reduced remedy more apparent. +As has been before stated, the gold of 1859 contained, besides a vast +amount of brittle gold, 0·45[84] per cent. of its whole weight of dumb +fillets. Then, coming to the period, October, 1863, to June, 1864, we +find a continued state of bad work, influenced by the remedy of 0·24 +grain to a certain extent but to a much more marked degree by the new +system which was now introduced; and by referring to the next table, it +will be seen that the ends at one jump went up from 4·03 to 7·60 per +cent., because a mistaken opinion led to the shearing off the ends from +the bars in the rolling room. The order for the re-introduction of this +abandoned custom was in the following terms, so could not be set aside +by those who saw its _unwisdom_:—“In the practice of the rolling room, +Mr. John Graham is requested to cause not less than 3 inches from the +hollow end of each gold bar to be cut off before beginning the rolling, +with a view of keeping back the doubtful portion of the bar.—(Signed) +THOMAS GRAHAM. 7th December, 1863.” Grave as was this error, it was +surpassed by a real blunder, for at this period it was determined to +stop all fillets that appeared to exhibit any signs of brittleness, +thus hopelessly rejecting an immense bulk of really good work lest it +should contain any bad; whereas, had the proper course been adopted, +the good from each fillet should have been selected, as was the +_invariable_ custom under the MONEYERS and the small per-centage of +really bad fillets rejected. By this system the men were thoroughly +disheartened. To such a length was this mismanagement at last carried, +that the officers and men allowed things to take their course, feeling +sure that time would demonstrate the folly of the present system. +However, the extravagance has continued down to this day. Yet another +source of waste of labour was left; and even this was utilised. In the +working of the draw-bench, as well as the mill, there are at starting +many fillets so varying in thickness that it is not fair to make the +trier send them to the _cutters_ as regular work. It was the custom at +that period to detain these fillets to the end of the day, when they +were especially treated, cut at a special cutter, and the blanks sent +to be weighed—the good were reserved, but the bad were returned to the +trier, yet not charged to him as bad work, thus enabling him to save at +least 70 per cent. of, perhaps, 5,000 ounces per diem. Under the new +_régime_ this was not permitted, from sheer want of knowledge, although +its stoppage was condemned alike by officers and men. Causes such as +these reduced the average amount of coined sovereigns, from rough bars, +from 51 to 44 per cent., as will be seen by examining the table of +coined money obtained from _rough bars_.[85] By now referring to the +accompanying statement, the effect of this mismanagement will be seen, +for instead of an average of 52·40, only 48·48 per cent. of coin was +obtained from bars[86] that had been stripped of every fault that could +interfere with their producing power. Instead of yielding, as these +should have done, a larger proportion of coin, they really gave less +than the coin previously obtained from rough bars, as will be manifest +if this statement be consulted. But, that these facts may be more +clear, this abstract is made from the two previous tables, showing the +averages of coin obtained and the waste of labour by manufacture under +the present system, so clearly to exhibit the amount of loss in money +value by labour alone. + +[Footnote 84: See pages 46, 92.] + +[Footnote 85: See page 111.] + +[Footnote 86: See page 110.] + + +---------------------------+-------------------------------+ + | | On Rough Bars. | + | +-------+-----------+-----------+ + | From | Mixed |Sovereigns.| Half | + | | Coin. | |Sovereigns.| + +---------------------------+-------+-----------+-----------+ + |November 1856 to March 1863| 48·75 | 51·34 | 45·49 | + |October 1863 to August 1868| 44·03 | 44·87 | 40·85 | + +---------------------------+-------+----------+------------+ + |Waste per Centum | 4·72 | 6·57 | 4·64 | + +---------------------------+-------------------------------+------+ + | | On Clean Bars. | + | +-------+-----------+-----------+------+ + | From | Mixed |Sovereigns.| Half | Ends.| + | | Coin. | |Sovereigns.| | + +---------------------------+-------+-----------+-----------+------+ + |November 1856 to March 1863| 52·40 | 53·98 | 47·44 | 4·26 | + |October 1863 to August 1868| 48·48 | 48·58 | 45·26 | 7·03 | + +---------------------------+-------+-----------+-----------+------+ + |Waste per Centum | 3·92 | 5·40 | 2·18 | 2·77 | + +---------------------------+-------+-----------+-----------+------+ + +STATEMENT SHOWING THE AMOUNT OF MONEY COINED AND OF PYX PIECES BETWEEN +NOVEMBER, 1856, AND AUGUST, 1868. + + LEGEND: + (A) = Money Coined:—Sovereigns and Half Sovereigns. + (B) = Coined Money:—Sovereigns + (C) = Coined Money:—Pyx Pieces. + (D) = Coined Money:—Half Sovereigns. + (E) = Coined Money:—Mixed Pyx Pieces. + +---------------------------------+-----------+-----------+--------+ + | Coinage | | | | + | conducted between | (A) | (B) | (C) | + | the Periods:— | | | | + +---------------------------------+-----------+-----------+--------+ + | | Ounces. | Ounces. | Ounces | + | November 1856 to April 1857 | 456111·568| 288314·570| 277·857| + | October 1857 to March 1858 |1236713·674|1166819·294|1407·777| + +---------------------------------+-----------+-----------+--------+ + |December 1858 to January 1859[87]| 450090·524| 410119·648| 584·990| + |March 1859 to June 1859[88] | 464407·847| 181414·181| 207·494| + +---------------------------------+-----------+-----------+--------+ + | January 1860 to March 1860 | 801722·890| 656425·814| 936·549| + | January 1861 to April 1861 | 861205·000| 715989·212|1021·293| + | June 1861 to March 1862 |1872214·638|1872214·638|2670·720| + | May 1862 to March 1863 |2351444·336|2217447·814|3265·725| + | October 1863 to June 1864 |2320041·256|2163027·402|3085·452| + | October 1864 to December 1864 | 957057·966| 846150·074|1207·216| + | January 1865 to August 1865 | 518037·315| 372808·744| 532·079| + | November 1865 to May 1866 |1394809·101|1040421·949|1504·848| + | April 1867 to June 1867 | 127485·816| | | + | July 1868 to August 1868 | 280608·540| 280608·540| 385·200| + +---------------------------------+-----------+-----------+--------+ + | Coinage | | | | + | conducted between | (D) | (C) | (E) | + | the Periods:— | | | | + +---------------------------------+-----------+-----------+--------+ + | | Ounces. | Ounces. |Ounces. | + | November 1856 to April 1857 | 167796·998| 186·436 | 464·293| + | October 1857 to March 1858 | 69894·380| 49·947 |1457·724| + +---------------------------------+-----------+-----------+--------+ + |December 1858 to January 1859[89]| 39970·876| 28·404 | 613·394| + |March 1859 to June 1859[90] | 282993·693| 210·844 | 418·338| + +---------------------------------+-----------+-----------+--------+ + | January 1860 to March 1860 | 145297·076| 103·747 |1040·296| + | January 1861 to April 1861 | 145215·788| 103·618 |1124·911| + | June 1861 to March 1862 | | | | + | May 1862 to March 1863 | 133996·522| 95·786 |3361·511| + | October 1863 to June 1864 | 157013·854| 111·964 |3197·416| + | October 1864 to December 1864 | 110907·892| 79·094 |1286·310| + | January 1865 to August 1865 | 145228·571| 103·618 | 635·697| + | November 1865 to May 1866 | 354387·061| 253·461 |1758·309| + | April 1867 to June 1867 | 127485·816| 90·265 | | + | July 1868 to August 1868 | | | | + +---------------------------------+-----------+-----------+--------+ + +[Footnote 87: Explained on page 115.] + +[Footnote 88: Explained on page 115.] + +[Footnote 89: Explained on page 115.] + +[Footnote 90: Explained on page 115.] + +To show the extra cost of coining, these figures have but to be +multiplied into the sums coined. Before, however, entering upon this +field, it will be well to explain that the rates per cent. of coined +money obtained, as exhibited in the last two tables, are inclusive of +the pyx pieces, so as to show, as far as possible, the best results. +The pieces taken for the Mint trial are excluded, because these do not +ultimately find their way into circulation; but that the vast money +loss may be seen, I have added, in a tabular form, a statement[91] +which will show the weight of coined money produced in each coinage +from 1856 to 1868. It may, at first sight, appear that if the work +be so badly conducted as to yield an average of 3·92 per cent. less +coined money from a hundred ounces of bars, the expense incurred is +increased to an equivalent amount; but such is not the case, for +all depends on the point at which the extravagant workmanship may +have taken place. If, for instance, the bad work be produced in the +rolling room, it simply induces the expenditure of so much wages in +the melting, because the men are paid for the bars produced; but if +the rejection shall have taken place after the money is coined, it +becomes a more serious matter, because, in such a case, the loss and +expense attendant on each operation subsequent to the melting have been +incurred. It is, therefore, extremely difficult to give a general rule, +but an instance will suffice. The coinage for 1857,[92] inclusive of +every _manufacturing_ expense, cost 6_s._ 5_d._ per thousand pieces; +while that of 1866 cost 13_s._ 2_d._ per thousand pieces. That the +exact amount of waste may be estimated for these two years, then, it is +only necessary to multiply the weight given previously (refer to page +114) for the coined money and pyx pieces, which, in the period from +November, 1856, to April, 1857, would be 456,111·568, added to 464·293, +and the sum of these, multiplied by £3·89375,—the decimal expression +for £3 17_s._ 10½_d._, when the total value of that coinage will be +obtained, and found to be £1,777,796·15. Since each thousand coins +cost 6_s._ 5_d._, the total sum was coined at an expense of £570 7_s._ +6_d._; but, had the rate of expense been the same as for the coinage of +1866, the total cost would have been £1,170 7_s._ 7½_d._, or exactly +£600 0_s._ 1½_d._ more than it should have cost for actual working +expenses. So by the rule of proportion the actual expense for the +coinage of 1866 may be obtained, and this table is valuable as showing +the weight of each coinage, but will naturally be more serviceable to +those who seek practical information than to general readers, and for +the benefit of such it is added. + +[Footnote 91: See page 114.] + +[Footnote 92: See page 117.] + +On examining this table (see page 114), it will be observed that +the coinages of December, 1858, to June, 1859, and against which is +placed, are bracketed, with a view to call attention to the fact that +the accounts of those two coinages became inexplicably mixed. Since +the present and the late Prime Minister have stated from their places +in Parliament that the Royal Mint is found wanting in administrative +ability, it may not be out of place to suggest that there is abundant +room for reform in the Office division of that Department, for it is +seldom that the accounts can be obtained for many months after the +work is finished, and this circumstance, as is apparent, is a serious +inconvenience to the operative department. + +Following these considerations on the extravagance of manufacture, and +reflecting on what the processes should be, it appears that this is +a fitting point at which to study the cost of producing gold coins, +and, consequently, the rates of wages paid to the men for labour. +Therefore, it may be well to state that there were two systems of +payments to workpeople: one by which they were paid for _time_, that +is, by the hour, for cleaning the working departments, machinery, &c., +and for the more important coining of bronze; while for the coining of +the precious metals they were paid by a scale of _piece-work_. These +systems produced nothing but dissatisfaction amongst the workpeople, +for at times they were receiving very good wages, and at others none +at all; and to meet such contingencies the men and boys who were on +the establishment received a kind of retaining fee, which was called +subsistence, and in bitter irony no more fit name can be given to +the miserable pittance which, under this form, was paid to them. It +commenced at 6_s._ a week, and, after twenty years, rose to 10_s._ +a week; and if, as often happened, the Mint were idle for months +together, this was all the poor fellows had to subsist upon; and, to +reduce the value of this pittance to its smallest proportion, they were +not entitled to it unless they should each day present themselves, +and, by a fiction, ask for leave of absence for that day, the longest +period for which leave can be granted. After many attempts to compel +the men to comply with these terms, they were wisely permitted to +go home, and “wait further orders;” so that, by a kind of tacit +resistance, they were able to overcome a regulation which would make +it impossible to obtain employment elsewhere, because most other work +commences before eight, at which hour they were required to present +themselves. If, instead of this unsatisfactory state, the men were paid +fixed wages, and, in addition, so much for each 100 lbs. of coined +money produced, they would be satisfied, while the coined money would +be produced at a cheaper rate, for each man would be concerned to see +that every exertion was made for the final event; whereas, under the +then arrangement, with a specific amount of gold to be coined, it is +manifest that, with management such as is now under discussion, the sum +for wages might be doubled, because the men were paid at the following + +Rates for Piece-work. + + LEGEND: + (A) = Rolling Fillets. + (B) = Adjusting and Cutting. + (C) = Marking and Annealing. + (D) = Coining in Press Room. + (E) = Melting. (Ends are not deducted.) + +----------------------+-------+-------+-------+-------+------+ + | For each 100 lbs.| | | | | | + | Troy of Good | (A) | (B) | (C) | (D) | (E) | + | Work produced. | | | | | | + +----------------------+-------+-------+-------+-------+------+ + | |_s. d._|_s. d._|_s. d._|_s. d._| _d._ | + |Gold Sovereigns | 3 0 | 5 0 | 3 0 | 2 6 | 5 | + | Half Sovereigns| 5 0 |10 0 | 6 0 | 5 0 | 5 | + +----------------------+-------+-------+-------+-------+------+ + | Florins | 1 6 | 2 6 | 2 0 | 1 8 | 5 | + | and upwards | | | | | | + | Shillings | 2 0 | 3 6 | 3 6 | 3 0 | 5 | + |Silver Sixpences | 4 0 | 7 0 | 7 0 | 6 0 | 5 | + | Fourpences | 5 0 | 8 0 |14 0 |12 0 | 5 | + | Threepences | 6 0 |10 0 |14 0 |12 0 | 5 | + +----------------------+-------+-------+-------+-------+------+ + +And, to view this matter in its practical light, we can demonstrate its +unadvisedness. Thus, in the coinage of 1857,[93] there were 2,110,962 +ounces of gold bars wrought, which produced 2,016,337·80 ounces of +fillets (equal to 95·51 per cent.). These fillets produced 1,163,502·34 +ounces of good blanks, from which 1,154,590·87 ounces of coined +sovereigns were obtained. Now, if these various weights be reduced to +wages—the men were paid for the produce of each operation—by the table +above given, they will yield as follows:— + +[Footnote 93: See page 92.] + + £ _s. d._ + For melting 36 12 9½ + ” rolling 252 8 0½ + ” cutting and adjusting 260 12 5¾ + ” annealing and blanching 145 8 9 + ” coining in press room 120 5 4¾ + -------------- + £815 7 5½ + +So that for producing 1,154,590·87 ounces, or £4,495,748, of coined +money, the men were paid £815 7_s._ 5½_d._, which sum was equally +divided amongst the whole body, except that paid to the melters, for +they are still paid, by a curious fiction, as packers and tellers. +This, then, is the sum paid for wages when the coin produced averaged +54·79 per cent. on the bars; but let us see its amount compared with +another statement put forward by the late Master of the Mint when the +sovereigns produced averaged—the coinages concerned terminated in +December, 1864,[94] and May, 1866[95]—49·44 and 38·11[96] per cent. on +the bars respectively—in other words, let us compare this rate of pay +with that given in the Report of the Commissioners on the International +Coinage, from which book the figures for 1864 in the following Table +are taken. + +[Footnote 94: See page 111.] + +[Footnote 95: See page 111.] + +[Footnote 96: By reference to the table at page 84, it will be seen +that the amount of coin obtained in 1866 was below the worst produced +at any other period since 1851.] + + STATEMENT SHOWING THE COST OF PRODUCING + 1,000 COINED SOVEREIGNS AND HALF SOVEREIGNS. + + +-------+---------------+-----------+----------+---------------+ + | | | | | | + | | | Total | Average | Total Sum | + | Date | Denomination | Number |Number of | paid to | + | of | of Coin. | of Coins |Pieces per| Workmen as | + |Coining| | in the | Week. | Wages. | + | | | Coinage. | | | + +-------+---------------+-----------+----------+---------------+ + | | | | | £ _s. d._ | + | 1857 |Sovereigns | 4,495,748 | 497,625 | 778 14 8 | + | 1858 | ” | 47,549 | | 8 4 2½ | + | 1858 |Half Sovereigns| 544,312 | 272,156 | 91 10 3 | + | 1864 |Sovereigns | 5,663,656 | 514,878 |2,011 11 7½ | + +-------+---------------+-----------+----------+---------------+ + +-------+------------+------------+------------+------------+ + | | | Cost of | | | + | | Cost of |1000 pieces | Cost in | Total Cost | + | Date | 1,000 |in Salaries | Loss of | of | + | of | Pieces in | and | Metal by | producing | + |Coining| Wages. |contingent | Coining. | 1000 Gold | + | | | expenses. | | Coins. | + +-------+------------+------------+------------+------------+ + | |£ _s. d._ |£ _s. d._ |£ _s. d._ |£ _s. d._ | + | 1857 | 0 3 5½ | 0 8 1¼ | 0 2 9½ | 0 14 4¼ | + | 1858 | 0 3 5¼ | 0 17 5½ | 0 4 1¼ | 1 5 2 | + | 1858 | 0 3 4½ | 0 18 3¾ | 0 4 1¼ | 1 5 9½ | + | 1864 | 0 7 2 | 0 12 9¼ | 0 6 0 | 1 5 11¼ | + +-------+------------+------------+------------+------------+ + +-------+------------+-------------+ + | | | | + | | | Total Cost | + | Date |Cost of 1000|of producing | + | of | pieces for | one Gold | + |Coining| melting. | Coin. | + | | | | + +-------+------------+-------------+ + | |£ _s. d._ |£ _s. d._ | + | 1857 | 0 0 1·955 | 0 0 0·174 | + | 1858 | | 0 0 0·302 | + | 1858 | | 0 0 0·309 | + | 1864 | | 0 0 0·311 | + +-------+------------+-------------+ + +By which it is demonstrably shown that whereas at that period 1,000 +coins cost for wages 7_s._ 2_d._, at the periods above given, and shown +as 1857-8, the cost was 3_s._ 5½_d._ for the same number of coins, thus +showing a clear saving for wages, by the proper system of management, +of 3_s._ 8½_d._ on each 1,000 sovereigns coined, or on that total +quantity no less than £1,050 2_s._ 8½_d._ While such extravagance is +not only tolerated but approved, miserable savings are effected at the +cost of the helpless. But to treat of the wrongs to which men in this +Department are submitted would take volumes which none would read. + +Since, however, the appearance of the last edition of this book, the +Mint Authorities have adopted in part the plan of wages payment I +therein suggested, and which I had submitted to the late Master of +the Mint in my Report dated 29th January, 1859. Indeed, I believe the +system now in force was recommended to the Treasury, in the first +instance, by Mr. Thomas Graham. I am sorry they did not give full +effect to my propositions, still they have improved the positions of +the workmen by the alterations made, but for the reasons I shall state +I cannot concur in what they have done. I leave my original proposition +to speak for itself, as I reproduce it a few pages hence, and here +content myself with exhibiting the system of payment to workmen now in +force in the Royal Mint. _Vide_ “Mint Reports,” No. 7, 1870. + +“We propose that for the future all piece-work in gold and silver +coining shall be paid for at the reduced rate of 1_s._ 9_d._ per 1,000 +good pieces, and all bronze coining at the rate of £2 10_s._ per +ton for pence, £3 10_s._ per ton for halfpence, and £7 per ton for +farthings. + +“In addition to their wages for piece-work, we propose that the men +should be entitled to a uniform payment of £1, and the boys to a +payment of 10_s._, and after three years’ service, to 15_s._ per week. +The only exception to these arrangements would be the payments made +to certain overmen, which would be in one case £1 10_s._, and in five +other cases £1 5_s._ per week. These payments would continue to be made +when the Mint is at work as well as when it is unemployed, and to the +boys as well as to the men. All the men and boys would thus receive +sufficient weekly wages to maintain them, both during a cessation of +work and while the Mint is in full operation. + +“By this arrangement an average saving of £100 a year only will be +effected.” + +To the principle involved in this system I take exception; for the +manufacturers, who gave the idea for it, never coined the precious +metals, so that the whole operation of the system could not have been +present to their minds when they recommended it. By this plan the men +are paid for simple numbers, and not as they should be, in proportion +to the labour and anxiety incurred. + +That this fault may stand out clearly, I submit in the following table +a fair week’s work on each coin, and we will assume that the one kind +of coin follows the other, as indeed would really be the case in actual +operation, only at greater intervals. + + +-------------------------------+ + | GOLD. | + +---------------+---------------+ + | Sovereigns. | Half | + | | Sovereigns. | + +---------------+---------------+ + | 600 journeys | 300 journeys | + | per week. | per week, | + | = 420,600 | = 420,600 | + | pieces at 1/9 | pieces at 1/9 | + | per 1,000. | per 1,000, | + | | | + | Wages £36·80 | £36·80 | + +---------------+---------------+ + +---------------------------------------------------------------+ + | SILVER. | + +---------------+---------------+---------------+---------------+ + | Florins. | Shillings. | Sixpences. | Threepences. | + | | | | | + +---------------+---------------+---------------+---------------+ + | 240 journeys | 180 journeys | 108 journeys | 60 journeys | + | per week, | per week, | per week, | per week, | + | = 475,200 | =712,800 | = 855,360 | = 950,400 | + | pieces at 1/9 | pieces at 1/9 | pieces at 1/9 | pieces at 1/9 | + | per 1,000, | per 1,000, | per 1,000. | per 1,000. | + | | | | | + | £41·55 | £62·37 | £74·84 | £33·16 | + +---------------+---------------+---------------+---------------+ + +----------------------------------------------------+ + | BRONZE. | + +------------------+------------------+--------------+ + | Pennies. | Half pennies. | Farthings. | + | | | | + +------------------+------------------+--------------+ + | 30 cwt. per | 25 cwt. per | 12 cwt. per | + | diem, or say | diem, or say | diem, or say | + | 9 tons a week | 7·50 tons a week,| 3·60 tons a | + | at £2 10_s._ | at £3 10_s._ | week, at £7 | + | per ton. | per ton. | per ton. | + | | | | + | £22·50 | £26·25 | £25·20 | + +------------------+------------------+--------------+ + +It is reasonable to suppose that men are more exposed to temptation +when gold is within their reach (and that this is Mr. Fremantle’s view +may be gathered from one of his reasons for urging a removal of the +Mint, viz., to avoid “opportunities for peculation”) than when they are +operating upon silver or bronze; yet we find by the above demonstration +that sovereigns and half-sovereigns yield almost _the worst wages_ to +the men, for the sums specified are divided amongst the whole body of +them, who probably number now, as when I left the Mint, 27 men and +11 boys. The contrast is stronger if the payment for _florins_ be +compared with that for THREEPENCES, which, with a tithe of the labour, +yield just _double_ the remuneration. The Reporters give a reason +why they altered the system, which after I have pointed out the above +facts, will seem to be curious. They state that the _inequalities of +wages_ induce “the improvident to contract liabilities, and, on the +other hand, the more skilful workmen are induced to accept employment +elsewhere, and the Mint loses their services.” In my own experience, +the men prefer regular wages of a smaller amount to an irregular income +of greater value, because they can then regulate their household +expenses and save money by fixed weekly sums, but that this reason +never entered the heads of the Reporters is manifest from their own +admission. They urge “_this arrangement_ because _an average saving +of £100 a year will be effected_,” which saving is to come out of the +pockets of men already underpaid. I would say to the Reporters, “Muzzle +not the ox that treadeth out the corn.” + +The total cost, then, of producing a sovereign in 1857 under proper +management was 0·174_d._, while under Mr. Graham’s system it would +appear to have been 0·311_d._ in 1864. If, however, the facts be +examined, and stripped of the sensational effect of the cost of one +coin, it will be found that the difference is far from infinitesimal, +for whereas the total absolute cost per 1,000, inclusive of everything, +was 14_s._ 4¼_d._ in 1857, it had reached £1 5_s._ 11¼_d._ in the +years 1864-66 (see page 117). The increased expense thus incurred +amounts to 11_s._ 7_d._ on each 1,000 coins, or, on the whole amount +of that coinage, to £3,280 4_s._ This, then, is the state of cost at a +selected period, when a large amount was coined weekly. But what would +have been the cost had it been taken on the total coinage? For then +we should have found an increase in the amount per 1,000 pieces for +salaries and contingent expenses, whereas the figures for 1857 include +the whole coinage—beginning, middle, and ending; so that the average +produce of coins per week, although appearing to be smaller than that +of 1864, is really far greater, for whereas the largest number reached +in any one week in 1864 was 585,899[97] pieces, in 1857 the largest +number in any one week was 915,506[98] pieces, or larger by 329,607 +pieces, the average per week being 17,253 pieces less, because the +coinages of 1864-1866 referred to, do not contain the beginning and +“tailing-off” of the coinage; in simple fact, they are figures written +_for effect, not for information_. That the complete coinage costs +more for salaries and contingent expenses is self-evident, because +those expenses remain the same if no coins be struck, but that this +is a fact is demonstrated by the little coinages of 1858 in the same +table,[99] where it will be seen that, although the payments for wages +nearly approach the cost of 1857, the cost for salaries and contingent +expenses is greater than it was in 1864. Another point is here also +proved to demonstration—that whereas the loss by coining is clearly +proved to be unnecessary, the late Master of the Mint states it at +6_s._ per 1,000, or £300 per million coined. That this should have +been so stated is of ill omen,[100] for when the belief of Mr. Brande +and his colleagues led them to the conclusion that loss was necessary +at a mean rate of £373 per million, they exceeded £500; and, by rule +of proportion, we may expect the Mint to make, now that the belief of +the late Master has found expression, a loss of £452.[101] Be this as +it may, the difference between 6_s._ and 2_s._ 9½_d._ is sufficient to +make men think, for even this trifle of 3_s._ 2½_d._ on 1,000 coins +amounts to £908 2_s._ 6½_d._ on that single coinage. That the loss +on the coinages of 1858 should be so great is explained by the fact +that in a small coinage the first loss by gilding the machinery is as +great as in a large one; but in the case of a great coinage this is so +distributed over the mass as not to appear. Had it been determined, +however, to exhibit the actual facts by the system of selection +followed by others, not only would this loss of metal have disappeared, +but a gain would have been shown, for on those particular coins there +was an actual gain of 1·39 ounces, which is at the rate of £9 18_s._ +10½2_d._ per million coined, or 2·386_d._ per 1,000 pieces coined, so +reducing the cost of these actual coins to £1 0_s._ 10½_d._ and £1 +1_s._ 6_d._ per 1,000 respectively; but as these matters are dwelt upon +for information alone, it is preferred to place the fair proportion of +the loss on this coinage on this portion of it. It should be observed +that the contingent expenses for 1857 do not include £1,100 voted for +the new files,[102] because that sum was never appropriated to that +purpose; but that they do include the subsistence paid to the men, and, +indeed, every possible sum other than weekly wages paid to the men by +the piece-work scale above quoted. I have not questioned, nor have I +investigated, the figures used by the late Master of the Mint, for as +he wrote those papers, and invited the Signatories to give their names +after the copies were fairly made, it is but just to suppose that that +gentleman satisfied himself of their accuracy. + +[Footnote 97: See Report by Commissioners on International Coinage, p. +93.] + +[Footnote 98: See the Mint Books.] + +[Footnote 99: See page 117.] + +[Footnote 100: See page 125.] + +[Footnote 101: See page 129.] + +[Footnote 102: See pages 44, 179.] + +The Chancellor of the Exchequer has proposed to reduce the value of +the gold coinage by removing one grain of gold from the sovereign, a +reduction of 0·81119 per cent, of its value. This matter has been so +fully discussed, and its error so completely demonstrated, that little +need be here said; but there is one consideration which should not be +omitted. The new standard of value, for such it will be, will be worth +only its value in gold immediately after it has quitted our shores. To +travellers, therefore, it is a tax of about one per cent., for each of +Mr. Lowe’s pounds will fetch but 19_s._ 10_d._, and, whether the coins +be exchanged here or abroad, the reduction must be borne; whereas, if +it were determined to charge the _importer_ for the cost of coining, +and for that alone, no tax could fall on individuals—a system which +must be unjust, and the coin would, by this burden, be restricted in +its power of sale as bullion, so small a sum as one-eighth of one per +cent. having frequently determined the sending of coin rather than +of bullion, because, when the exchanges are nearly equal, merchants +thus save the cost of assaying, which, inclusive of loss of interest, +&c., amounts to 2_s._ 6_d._ per £100. To fix, then, the sum proper +to charge for the coining of gold is practically a simple matter, if +it be desired, as should be the case, to protect our coinage from +conversion into bullion, to the profit of special merchants, but to the +loss of the nation. In the following proposition the exact cost can be +determined, and that should be the maximum limit of a Mint charge or +_mintage_, for if that charge be so enlarged as to insure a profit, the +fears of Mr. J. G. Hubbard as to the illicit coiners relieving the Mint +may be expected to be realised. + +Between April, 1855, and December, 1865, £59,581,957 were coined, or +an average of £5,958,195 in each year. If, however, six millions be +accepted as the average yearly coinage of gold, it will give data for +the following calculations. + +That the cost of coining may be always the same, let there be +thirty-six efficient workmen and twelve boys, and let these be paid +for wages in the following manner:—To each man £1 a week, whether at +work or not, and to boys a sum beginning at 14_s._ per week, to be +increased 1_s._ per week for each additional year of service, until the +age of twenty be reached, when they should receive the same sum of £1 +as is paid to the men, but the “rating as men” should be stopped till +a vacancy occurs, that the number of men, inclusive of melters, shall +not exceed thirty-six, as then no injustice will be done the men, and +the boys are sufficiently provided for to enable them to wait. When, +however, work is in progress I would pay for piece-work as follows; for— + + £ + Sovereigns 0·806 per 100 lbs. troy of coined money. + Half Sovereigns 1·571 ” ” + Florins 0·555 ” ” + Shillings 0·800 ” ” + Sixpences 1·348 ” ” + Threepences 2·330 ” ” + Bronze pence 7·500 per ton of coined money. + ” halfpence 10·000 ” ” + ” farthings 15·000 ” ” + +This sum should be divided by a simple system equally amongst the +workpeople, so that men should take one whole share, boys who have +served more than three years and a half two-thirds of a share, and boys +of less service than three years and a half one-third of a share. When +the fair share of piece-work exceeds the permanent amount of fixed +wages, that sum should be deducted from the total sum allotted to each, +so that the permanent wages would become a fixed charge secured on the +piece-work to be performed. This being performed intelligently, each +workman would participate in the benefit, therefore each would do his +best; whereas no increase can take place in the cost of production, for +any carelessness in the various operations simply causing so much waste +labour, would bring no remuneration, and the wages would thus bear +proportion to the anxiety incurred and be equalized. + +To pursue, then, this proposition further, it will be convenient to +assume that 420,600 sovereigns are coined per week, this being a fair +average amount to take if the complete coinage be conceived to be +6,000,000 of finished coin. In such a case fourteen weeks would be +required to effect the operation, and its total cost will stand thus:— + + £ + For assays by out-door assayers 998·4 + ” wages to workmen 1,035·0 + ” salaries and contingent expenses 2,843·0 + ” loss of metal by coining 1,200·0 + -------- + £6,076·4 + +In estimating salaries and contingent expenses the estimates of 1857 +have been taken, because the pressure for bronze has passed away, +and the establishment has, it is supposed, gone back to its then +dimensions. At that period it was usual to estimate the cost of coining +gold, inclusive of assaying, at the rate of one-sixth per cent. In +the above calculations the cost of assaying is included, as well as +the salaries and contingent expenses, from which, however, has been +deducted the fixed wages paid to the workpeople for fourteen weeks, +because they are supposed to have been earned as piece-work. + +Allowance at the extravagant rate of £200 per million coined is also +made for loss of metal by coining, so that under this proposition the +total cost of producing six millions of coined gold becomes £6,076·40. +This must be the absolute sum, for the cost of dies, police, &c., +is included in the amount for salaries and contingent expenses; it +therefore follows that each £100 would cost for manufacture £0.101273, +or about 2_s._ 0¼_d._ Here, then, are exhibited the grounds on which +the calculations are based, and unless there are errors on the face of +the figures it is demonstrated that the total cost of coining, even +with an extravagant estimate, may be reduced to about one-tenth of one +per cent. Why, then, should a profit of nine-tenths of one per cent. +be desired or granted? If an ultimate decision should be formed to +charge £1 for each thousand sovereigns coined, a stimulus will be given +to the Mint authorities to investigate the cause of their losses, the +means whereby these may be stopped, and to how great an extent useless +officers may be parted with, thus to make a minute but legitimate +saving out of the allowance, for there is no substantial reason why we +should coin free of charge; nor, on the other hand, is it right that +the cost of that operation should fall on the tax-payer, while a just +rate for mintage would, unless under very exceptional circumstances, +protect the coinage from illegitimate conversion into bullion, for it +must be remembered that there is already in reality a tax of 1½_d._ per +ounce for the conversion of bullion into coin, paid by the _importer_ +to the Bank of England, and the charge for mintage will be in addition +to that tax. + +A very strong reason against an exorbitant charge may be found in +the fact that the French Mint is content to fix its rate at about 6 +francs 70 centimes for each kilogramme of their standard gold, which +is coined into pieces of the value of 3,100 francs, or about 0·216129 +per cent., say 4_s._ 3¾_d._ for each £100 coined, and this under a +system of contract which gives a profit to the contractors, so that it +becomes clear, coining is practically done AT A FIXED RATE IN FRANCE, +that rate being above the actual cost of our coinage in 1857, but below +the charge proposed by the Chancellor of the Exchequer by six-tenths +of one per cent., irrespective of the deduction of 1½_d._ per ounce +made at the Bank when gold is bought.[103] This being the case, it is +reasonable to suppose that all the gold for coining will go to France; +whereas, if it be desired to convert the coin of France into _our +proposed debased coinage_, each £1,000 so converted will produce but +£990·275, because the 1½_d._ per ounce is equal to 0·16051 per cent., +and to this tax is added 0·81119 per cent. by the deduction of the +one grain proposed by the Chancellor of the Exchequer, for it must be +understood that the coined money of France will still be treated as +bullion. Perhaps a still plainer view of the case may be obtained, if +it be assumed that a man has a million pounds’ worth of gold, which, +for cheapness’ sake, he gets coined in France, where he will pay +£2,161·29 for coining it. Circumstances, however, make it desirable +that this million in French gold coins should be converted into coin +of the British standard as coined at the Royal Mint, where the owner +will find that, for the conversion of his bullion, he has to submit to +a deduction equal in value to £9,725, which, added to the sum charged +in France for the first coining, makes a total of £11,886·29. How many +persons will be willing to sacrifice such a sum for the convenience +of others? The result must be that, unless under the most exceptional +circumstances, no gold except for currency can be coined in England, +it will inevitably be sent to France, because coined gold will there +always be 0·81119 per cent. more valuable than in England. + +[Footnote 103: Sec pages 3, 127.] + +In discussions recently earned on in the newspapers, the liability +of gold coin to be sifted of its pieces which are heavier than the +theoretical standard has been a good deal dwelt upon; but there is one +view which, perhaps, has not occurred to those who are unacquainted +with the manufacturing details. It is true, then, that the standard +weight of a sovereign deduced from its proportional weight to 20 lbs. +troy is 123·274478 grains, and that this piece may vary so far in +weight as to be either too light or too heavy by no less than 0·2000 +grain, and yet be a perfectly legal tender. With careful manufacture +the coins issued should be so apportioned that there shall be half +the number on the light and the other half on the heavy side of the +standard weight.[104] By referring to the papers furnished for the +guidance of the jury at the trial of the pyx it will be found that the +gold coins reported on at the last two trials were on the light side of +the theoretical weight, for those submitted to trial in 1861 were by +number 24,655,335 pieces, and weighed only an equivalent to 24,654,849 +sovereigns, consequently the Bank of England received exactly £486 +more in coined moneys than their bullion was worth; therefore this +was a profit to that Institution. And on the occasion of the trial +which took place in 1866 there were by number 34,927,188 pieces, which +weighed only an equivalent to 34,927,008 sovereigns, so that the Bank +gained exactly £180. These facts demonstrate the fairness with which +the Mint coins and issues its coined moneys, not in accordance with +the letter, but with the spirit of the law which governs its actions; +yet the evidence thus given is to the effect that the bulk of the +coins are on the light side. The current weight of the sovereign, as +authorised by Act of Parliament 33 Vict., cap. 10, and published in +the _London Gazette_, 12th August, 1870, is 122·50 grains, and below +this weight the Bank of England will not receive it in payment of +twenty shillings; but the half-sovereign, being a coin of convenience, +is allowed to circulate till its weight, has fallen to 61·125 grains, +below which it is not received at the Bank in liquidation of a debt +of ten shillings. Thus, then, while a sovereign may be legally coined +so that its weight may be either 123·474478 grains or 123·074478 +grains, it is still permitted to circulate, and is a legal tender at +the current weight of 122·50 grains, or a difference of 0·574478 grain +below the minimum weight permitted by the New Coinage Act for its issue +from the Mint. If, as will be found to be the case on an average of +years, the rejected coins by weight amount to 16 per cent. when the +remedy is 0·20 grain, and to 9 per cent. when the remedy is 0·25 grain, +it is evident that the chance of obtaining profit by picking coins +is not greater than 3·5 per cent., because the difference between a +fifth and a quarter of a grain makes an increase of 7 per cent., and +of these rejected pieces rather less than half are on the heavy side, +because, as has been shown, the whole deliveries to the Bank of England +are on an average light pieces; therefore it will be perfectly safe +to consider that each hundred sovereigns contain at the extreme three +coins which may be two-tenths of a grain heavier than the standard +weight of 123·274478 grains; but it is by no means certain that any +hundred pieces would contain one single coin heavy by this amount +even if the remedy were made to be 0·25 grain, because the automaton +balances of Mr. Cotton are so accurate as never to permit the issue of +pieces beyond the limits assigned, and any piece which at its passage +through the machine equalled the maximum weight would be, and is, +inevitably reduced—infinitesimally, if you will—in weight, by abrasion +against other pieces in the act of falling, as well as when put into +its bag previously to going to the Bank of England. When the remedy was +0·30 grain the case was different, but it may now be assumed that it is +impossible for any one to make profit by selecting heavy pieces,—this +irrespective of the fact that the bankers find it worth their while +to select heavy pieces for transmission to the Bank of England, +because they then obtain the coins which are of current weight, yet +not intrinsically worth twenty shillings;—whereas the recent public +discussion makes it appear that it is worth the risk to certain unknown +individuals in Brussels to buy our newly-coined sovereigns, pick from +them such as exceed 123·274 grains, and melt them into ingots for sale +as bullion, and return to us the light pieces. The only modes by which +it pays such persons to buy new sovereigns for the purpose of such +gain is to shake them together in canvas bags, or to submit them to +the electrotype process—as is often done by chemical students—and by +these means obtain from each a specific amount of gold, sending the +sweated coins into circulation, having reduced each of them to the +lowest current weight by a very short rough usage. It is different when +coins, instead of being individually weighed, are simply _pounded_, +that is, weighed _en masse_, just to determine that a certain number +are in a given weight: in such circumstances many coins most unequable +may be issued, as was the case when silver coins were thus treated in +the Royal Mint in August, 1864, against all sound principles. At that +period the then Master, under false notions of economy,[105] determined +not to weigh individual pieces of silver money, because silver coins +were mere tokens, but when coins bearing the device of FLORINS, and +ranging in intrinsic value from 1_s._ 6_d._ to 2_s._ 9_d._ irrespective +of extrinsic worth, were returned to the Mint, this economy was soon +abandoned. + +[Footnote 104: See pages 39, 73.] + +[Footnote 105: See page 71.] + +I have dwelt at considerable length upon the losses incurred by +the coining of gold; such losses I now find are defended by high +authorities, but I hope some effort may be produced by my words, yet +not mine only, for I will quote those used by Mr. Graham in his letter +to the Treasury[106]:— + +[Footnote 106: See page 178.] + + “This gives in a million coined a net loss of £257 7_s._ 0¾_d._; + ... but after making allowance for the circumstances just stated, + the loss of gold in melting remains higher, in my opinion, than it + ought to be; and it will, I trust, be found to admit of some + further reduction in future years. + + “A correct estimate of the whole waste in coining is obtained by + combining the returns of the two departments:— + + £ _s. d._ + Loss of melting department 257 7 0¾ per million. + Surplus of coining department 50 13 0 ” + ----------- + Difference 206 14 0¾ ” + + It thus appears that in 1858-59 the net loss in minting £1,000,000 + of gold was £206 14_s._ 0¾_d._’ + +He then proceeds to show that “the loss on the gold coinage for the +(_then_) last three years was £172 8_s._ 11½_d._,” yet Mr. Fremantle’s +return to the House of Lords No. 30, 1870, shows a loss of £464 as the +average in the last three years, and he in “European Mints,” uses these +significant words: “The waste shown to have existed of late years in +the English Mint has not been excessive.” + +I reproduce these words because the Chancellor of the Exchequer has +accepted contracts for coinages for foreign countries, and I propose to +study the matter in relation to his probable profit. + +With such losses accruing as are here exhibited, it appears to be a +step worthy only the present Chancellor of the Exchequer to advertise +for coinage contracts for foreign countries. At what price will they +be granted to him? It is perfectly clear that, to make a profit, he +must charge more than it will cost, so it will be well to examine his +chance of success. We may assume that it will cost him 2_s._ 6_d._ to +coin £100 in sovereigns as the expenses of salaries, wages, and loss; +in addition to these he will find it necessary to pack his coined money +for exportation, whither he must pay carriage, insurance, &c. Should he +feel that he need not charge for wear and tear of machinery, he must +still remember that it will require renewal at intervals, and every +expense must be included in a total sum of 4_s._ 3¾_d._, or the foreign +contractors (whom he was sanguine enough to suppose would give him +information) will be sure to beat him in the tender for the contract. +As to silver, it is already certain that his loss by coining would +alone make any profit hopeless even to a Chancellor of the Exchequer +who knows how to get five quarters’ taxes in one year. Lord Kinnaird +has shown that the Mint loses by manufacturing silver coin, by sheer +loss of metal, at the rate of 3_s._ 9¾_d._ for each £100 coined (see +page 146), and in addition to this tax he has to pay 1_s._ 9_d._ for +each 1,000 coins manufactured for labour, besides the contingent +expenses, including packing, insurance, &c. All expenses must come +within 15_s._ for each £100, because this is the sum at which the +foreign contractors gladly accept coinages. While saying thus much, it +has been necessary to reserve facts which would be indispensable to a +contractor, because such information should be rendered to a contractor +only on terms such as another would be willing to offer for it, and to +publish it here would be hardly fair to those whose business it is to +live by coining. + +The Royal Mint, suffering thus from faults which its officials profess +themselves unable to remedy, it seems an eccentric proceeding that +while the Government Institution bears good-naturedly all the loss, the +Bank of England should obtain all the profit, “as a set-off against +the stock of bullion it is compelled to keep.” It is to be remarked +that the Chancellor of the Exchequer stated that it was “necessary to +expedite the coining of gold, because it bears interest while under +coinage,” thus exhibiting an absence of knowledge, for the Mint pays no +interest. It is no concern of the Bank whether its bullion be reserved +as ingots or coin, because it is compelled by Act of Parliament to keep +a specified amount to meet the excess issue of its notes, and this +circumstance alone enables the Bank of England to coin gold without +loss of interest—gold at the Mint is still considered as reserved by +the Bank. So far, indeed, from the Bank losing money by importing gold +for coming, it makes a clear profit, as is shown by the following +figures—this even under its new system of assay— + + BANK OF ENGLAND PROFIT. + + By the charge of 1½_d._ on each ounce of gold £1605·100 + By the system of absorbing assay fractions 166·666 + By the turn of the scale on purchase 71·339 + --------- + On each million coined £1843·105 + +Nor is this all; for the Bank exacts from the Mint the last ounce +or fraction of an ounce of all it sends, and besides receives gold +invariably coined on the light side of the standard, to the average +extent of £11·50, and makes an additional profit by the turn of the +scale, which gives them from the Mint £75 on each million, so that +their total gain comes to be £1,929 12_s._ on each million sent to the +Mint for coining, that Department good-naturedly finding alloy into the +bargain. That I do not exceed the facts of the case would seem to be +conclusively proved by Messrs C. W. Fremantle and C. Rivers Wilson, for +those gentlemen in their Reports state the amount at £3,458, and affirm +(see Reports on the Mint, page 4) that on £5,000,000 the Mint would +make a profit of £8,000. How they reconcile their figures I do not +know, for by their own showing it should be £17,290. They had better +accept my figures, which would produce a profit of £9,648 on the same +amount. + +I feel that I have produced sufficient evidence to oblige me to +withdraw the opinion I have hitherto held, and which I thus expressed— + + “If, as I can clearly show, the Mint can still be + advantageously retained under Government control, it would + appear to be a pity to place the coinage in the hands of + contractors, for it is evident that they must be paid such + a price as will yield them a profit, and this sum had + better be saved to the nation.” + +On the contrary, I now think it is the duty of the Government TO AT +ONCE COIN BY CONTRACT, as the cost of such process will be definite, +whereas it is now illimitable. Instead of the tax-payers paying for New +Mint buildings, _which are not required_, contractors would gladly buy +the present Mint just as it stands, and in three years amass colossal +fortunes. If Mr. Lowe were to hand over the coinage of gold, silver, +and bronze—by which the Government now loses so large a sum—for one +year, with proper security, to an unofficial person, who should pay all +the costs and reap all the profit, I am sure the annual vote for the +expenses of the Mint and coinage may be remitted and the work will be +better performed. At a period when the Government has seen fit to send +Commissioners to European Mints to learn the mystery of coining, it +seems a perversion of reason to adopt the opinions of those learners, +and upon their recommendations build new Mint premises. I am aware that +it is thought by the sanguine that the old Mint site will sell for a +vast sum, which will pay for the new site; but is it in the experience +of the public that such transfers are made without loss? Indeed the +probability of vast expense is so great that it becomes a settled +question. The Commissioners—the chief of whom says, + + “... While I must not be understood to be in a position to + offer positive recommendations on many points, and more + especially as regards machinery, while the question as to + the future site of the Mint is still pending, yet I trust + that I have shown the importance of the information which + we have acquired, and the possibility of applying it with + advantage to many Mint arrangements in this country”— + +recommend machinery and experiments with which two of their number are +admittedly unacquainted, and their Reports show throughout that they +are really writing upon subjects to which their minds have not yet +become accustomed, and which consequently they cannot fully appreciate. +Instead, therefore, of the Legislature building new premises on the +advice of such officers, it will surely be wise to give the contract +system a fair trial, say for a year, in accordance with the suggestion +of Lord Kinnaird. It is not the premises, it is not the machinery, it +is not the workpeople, but the utter want of experience in the chief +officers that gives rise to the state of muddle and dissatisfaction +amongst the officials, and causes loss of bullion, which does not go +into the chimney, and other expenses which will not bear the light of +day. + +Mr. Fremantle recommends new premises, on the ground that such should +be built expressly for Mint purposes. The present Mint was so built, +and is now capable, with very limited expenses, of adaptation. It would +be cheaper to burn it down and rebuild the operative departments, than +to remove it to another site, where the same want of experience will +surely give rise to precisely similar evidences of mismanagement as now +exist. It is because the Government prefers to put the wrong man in the +wrong place—square men in round holes—that it is thought necessary to +transfer the Mint, really that those gentlemen may be nearer their own +comfortable homes and friends. + +The East End of London is recognised as a disagreeable part to dwell +in; but the Mint is essentially a manufactory, and, as such, is not +fitted for the westerly parts of the metropolis, and those who object +to the neighbourhood should relinquish their offices. Would it be +tolerated, if proposed, to remove the Enfield factory to the Thames +Embankment, so that it “should be more immediately associated with +the Treasury offices?” In its present site the Mint has supplied the +coinage, and could issue multiples of its past productions; economy +being the order of the day, why incur unnecessary expense? + +In the meantime, the old rule holds good—a bad workman complains of +his tools; and those who demonstrate their inability to conduct the +Mint in such manner as to derive the revenue which they admit should +accrue and which they profess themselves unable to secure, should +gracefully assent to place the matter in the hands of contractors till +the Government shall see fit to put the department in the charge of +some person who will practically develope the truth, instead of hunting +in the chambers of the chimneys for that which they must know full well +has left the Mint by another means. + +The Commissioners seem to have gone out of their way to show their +want of knowledge on vital points in the manufacture of money. Thus +Mr. Fremantle recommends the substitution of graphite for iron pots +in silver melting, on the authority of Mr. Roberts, whose experience +is expressed in these words—“Graphite crucibles permit of the total +contents being poured into moulds, and this enables the accounts to be +adjusted daily.” Truly the accounts may be _adjusted_ daily; but most +commercial people object to _adjustment_, as that process commonly +leads to a minus account, and frequently an employment of the detective +police. To balance an account is a very different proceeding; but is +it true that graphite crucibles expedite the process? No, it is not +true, as witnessed by the table on page 102, where it will be seen that +the amount of gold which is _not “poured into the moulds”_ varies from +£1,132 down to £161, and has, at the last return, risen steadily to +£461, although the gold referred to was MELTED IN GRAPHITE CRUCIBLES. +At a later period I will show these facts in greater detail.[107] + +So much interest does not attach to the coining of silver as to the +coining of gold; yet, as the amount of profit to be made by this +coinage depends on the length of time which silver coins can be kept +in circulation, it is necessary to consider whether the Royal Mint has +at any time made, or does now make, so much profit as it should, and +whether the coins when made are so manufactured as to be fit in the +highest degree to bear the wear and tear to which it is intended that +they shall be submitted. These questions, although they may appear +to be of little interest, are really important, because the Mint, if +properly managed, should, by its silver coinage, pay all its expenses, +and by its bronze coinage, if the latter be discreetly conducted, +render an actual profit to the Government. I propose presently[108] to +touch upon the bronze coinage, when inquiry will demonstrate that this +is conducted in such a manner as that a large per-centage of the fair +profit is sacrificed annually. + +[Footnote 107: See page 136.] + +[Footnote 108: See page 162.] + +In those countries where silver is legally the standard of value the +coins contain the amount of silver which is equivalent to a fixed sum +of gold, and in all such cases, if silver should happen to rise in +price, bullion merchants buy large quantities of new silver _coins_ +and export them, because these remain at a fixed price, although all +other silver has risen in value. In England this contingency is avoided +by giving to coined silver an _extrinsic value_; that is to say, by +raising silver whose natural market price varies[109] between 5_s._ per +ounce and 5_s._ 2_d._ per ounce to an artificial value of 5_s._ 6_d._ +per ounce when it is coined into money. It is the practice of the Mint +to buy silver only when it is at its lowest market price, and then in +parcels of the value of £50,000. Upon an average of years it is found +that the profit thus accruing[110] should amount to about 8 per cent. +Even with perfect management the whole of this 8 per cent. would not +be secured, because all worn and light silver culled from circulation +is returned to the Mint by the Bank of England for recoinage into new +money, piece for piece, and many of the worn[111] pieces represent +only half their original extrinsic value. What we call a shilling is +intrinsically worth, when coined, about 10¾_d._, but when it is culled +from circulation it is often worth only 6_d._, therefore a loss of +4¾_d._ is incurred by re-coining it, quite independently of the labour +and loss of metal. It should, however, be stated that the Mint makes +a small profit by receiving the unreported fractions as well as the +excess of weight[112] invariably given when ingots are purchased. In +France the five-franc piece is coined so that it contains its intrinsic +value, the importer paying 75 centimes for each 100 francs in value. +Since this sum yields a profit to the contractor, we may be certain +that it covers every possible expense of production. If this cost be +proportioned to our money, it will appear to be at the rate of 15_s._ +for each £100. Let us see, then, if the silver coinage of Great Britain +is produced at so cheap a rate as is that of France, and this shall be +determined by discussing the unnecessary losses which are permitted, in +a similar manner to, but less elaborately than, that adopted for the +gold coinage. The tables which will be exhibited are those given me by +the late Master of the Mint, under precisely the same circumstances as +described when speaking of the tables relating to gold. I will then +briefly treat of these losses as they were, as they are, and as they +should be. Those who are habituated to the working of gold feel, when +that work ceases, a kind of relief, which is perhaps natural if the +relative value be considered. The Mint, then, suddenly changes from +this metal to one of just about a fourteenth of its value, for to the +Mint people gold at £3 17_s._ 10½_d._ is as 14·16 is to 1 of silver, +which they view as of a value of 5_s._ 6_d._ per ounce; again, it +is more bulky and unmanageable. These causes are to be admitted to +their full share of importance, but should not induce us to accept +them in explanation of facts which are not otherwise reasonable, and +such seems to be the case with silver in the Royal Mint. Mr. Seyd, in +his admirable work on Bullion and Exchanges, at page 560 says, “We +should like to see a return moved for in Parliament of the wasteage +of gold at the British Mint from 1850 to the present year; it might +show whether there has not been at certain periods of the management +of the operative department much less loss than at others, and whether +there has not been occasionally a small gain even, as there certainly +ought to be with proper management.” Mr. Seyd has shown himself a +master of the subject he has undertaken, and perhaps the facts stated +in the earlier pages of this book may reply to some of his questions. +He then proceeds to say, “A return of the wasteage of silver might +also prove interesting, as well as an account of the imperfect work +returned to the melting-pot during each year.” When an author who has +so successfully studied a subject invites such information, one can +but feel that it is wise to give some details. I propose, however, to +give only such facts as will bring us up to the year 1861, because the +following years vary but little, and if I were to give another eight +years it would require more space than it is deemed wise to occupy. + +[Footnote 109: See page 152.] + +[Footnote 110: See pages 146, 152.] + +[Footnote 111: See pages 65-67, 152, 155, 156.] + +[Footnote 112: See pages 127, 137-138.] + +In the following tabular statements will be found every particular +relating to silver arranged in a precisely similar manner to the facts +regarding gold, and it is hoped that they are given with sufficient +clearness to render unnecessary a lengthy explanation. I have given +other details at pages 136-142. + +In explaining the table on page 132 it should be noted that the £1,315 +9_s._ 4_d._, given as the value of the loss per million in 1852-53, +is not the true value, for, as in the case of gold, the account of +the loss was not kept. The loss of those years is, therefore, reduced +by sharing it with the coined money of the financial years, June, +1851, to March, 1853; if this sum be, as it should be, excluded, the +loss will be £1,695 17_s._ 6½_d._ The same allowance must be made for +the melting-house account in the table on page 134, when that sum +will become £1,375 12_s._ 4¾_d._ instead of £1,067 0_s._ 11¼_d._ It +is deemed fair to reduce this loss as far as possible; therefore the +whole sum coined between June, 1851, and March, 1853, has been made +to bear the one loss of these 1845·449 ounces. The same test being +applied to these tables as was applied to that relating to gold,[113] +it will be found that the average loss by coining silver between June, +1851, and March, 1857, was £1,013 11_s._ 2¼_d._, whereas in the next +period, between April, 1857, and March, 1860, it fell to £365 15_s._ +10½_d._ This reduction then shows that the former loss, taken at its +lowest, gives evidence of _unnecessary_ wasteage to the extent of +£647 15_s._ 4_d._ on each million coined; but this sum is not that +shown by the Mint books, for, as above stated, it is below the truth. +Great, then, as were the amounts missed, we shall find them far greater +if the state of the melting-house be considered, and to do this is +necessary, because it was asserted that the loss was arrested in the +coining department by sending more oil and dirt to the melting-house. +Let us then see how this stands in regard to the truth, for while in +the period 1851 to 1857 the oil literally _dropped from the scissel +and drained through the trucks on to the floor_, in the latter period +the trucks were not soiled, and the use of oil in the rolling room was +rigidly prohibited, while in the drag room only so much as was required +to lubricate the fillets at the drag bench was permitted to be used, +and this was as far as possible removed by careful wiping with cotton +waste. It is also a fact that whereas there had been an HABITUAL LOSS +in the rolling and drag rooms when oil was used very largely, there +was now a GAIN IN BOTH ROOMS; in the former to the extent of one in +ten thousand ounces wrought, and in the latter to the extent of two in +ten thousand. These facts must be of importance while considering the +following statement (see page 134). + +[Footnote 113: See page 88.] + +STATEMENT SHOWING THE AMOUNT OF SILVER COINED AND OF THE LOSS ATTENDING +IT IN THE COINING DEPARTMENT. + + +--------------------------+-------------+-------------------+ + | Date—Financial Year. | Weight of | Value of Coinage. | + | | Coinage. | | + | | | | + +--------------------------+-------------+-------------------+ + | | Ounces. | £ _s. d._ | + | June 1851 to March 1852 | 314689·050 | 86,539 9 9¼ | + | April 1852 to March 1853 | 1088196·550 | 299,254 1 0¼ | + | ” 1853 ” 1854 | 2135071·750 | 587,144 14 7½ | + | ” 1854 ” 1855 | 501459·800 | 137,901 8 10¾ | + | ” 1855 ” 1856 | 1138355·000 | 313,047 12 6 | + | ” 1856 ” 1857 | 1792800·000 | 493,020 0 0 | + | ” 1857 ” 1858 | 1420560·000 | 390,654 0 0 | + | ” 1858 ” 1859 | 1449360·000 | 398,574 0 0 | + | ” 1859 ” 1860 | 2052720·000 | 564,498 0 0 | + | March 1861 to June 1861 | 650160·000 | 178,794 0 0 | + +--------------------------+-------------+-------------------+ + +--------------------------+----------------+---------------------+ + | Date—Financial Year. | Amount of Loss | Value of the Silver | + | | by Coining. | Lost. | + | | | | + +--------------------------+----------------+---------------------+ + | | Ounces. | £ _s. d._ | + | June 1851 to March 1852 | | | + | April 1852 to March 1853 | 1845·449 | 507 9 11½ | + | ” 1853 ” 1854 | 2943·025 | 809 6 7½ | + | ” 1854 ” 1855 | 657·362 | 180 15 5¾ | + | ” 1855 ” 1856 | 1632·957 | 449 1 3¼ | + | ” 1856 ” 1857 | 2191·367 | 602 12 6¼ | + | ” 1857 ” 1858 | 910·264 | 250 6 5½ | + | ” 1858 ” 1859 | 834·679 | 232 0 2¾ | + | ” 1859 ” 1860 | 898·837 | 247 3 7¼ | + | March 1861 to June 1861 | 1357·375 | 373 5 5½ | + +--------------------------+----------------+---------------------+ + +--------------------------+-----------+-------------+-------------+ + | Date—Financial Year. | Value of |Lost Silver | Sweep | + | |Sweep Sold.|per Million | per Million | + | | | Coined. | Coined. | + +--------------------------+-----------+-------------+-------------+ + | | £ _s. d._| £ _s. d._| £ _s. d._ | + | June 1851 to March 1852 | 31 12 8 | | | + | April 1852 to March 1853 | 90 4 10½ |1,315 9 4 | 315 18 3 | + | ” 1853 ” 1854 |160 12 4 |1,378 8 4¾ | 273 11 1¼ | + | ” 1854 ” 1855 | 69 19 2¼ |1,310 17 11 | 507 6 3¼ | + | ” 1855 ” 1856 |104 5 7½ |1,434 9 9¼ | 333 3 3¾ | + | ” 1856 ” 1857 |149 10 9¼ |1,223 6 3¾ | 303 6 2¾ | + | ” 1857 ” 1858 | 98 1 10 | 640 15 6¾ | 251 1 11 | + | ” 1858 ” 1859 |125 8 4 | 582 2 1 | 314 13 3¼ | + | ” 1859 ” 1860 | 10 18 3 | 437 17 6¼ | 19 6 7¼ | + | March 1861 to June 1861 | 24 14 4½ |2,087 14 6¼ | 138 5 0½ | + +--------------------------+-----------+-------------+-------------+ + + To obtain the true amount of loss or waste, deduct the value of the + sweep from the value of the silver lost. + +RETURN FROM THE ROYAL MINT TO AN ORDER OF THE HOUSE OF LORDS, DATED +17TH FEBRUARY, 1870. (THE LORD ROSSIE.) + +COINING DEPARTMENT. + + A STATEMENT of the Weight and Value of the Silver + Moneys coined in each Financial Year from 1851 to 1869 + inclusive, exhibiting the Weight and Value of the Loss or + Waste sustained in each Year, as well as the Value of Sweep + recovered, and the average Proportion of such Loss or Waste + and Sweep recovered to each Million Pounds Sterling coined. + + +-------------------------+-----------+-----------------+---------+ + | Date. | Weight of |Value of Coinage.|Amount of| + | | Coinage. | | Waste. | + +-------------------------+-----------+-----------------+---------+ + | | Ounces. | £ _s. d._| Ounces.| + |August 1851 to March 1852| 314689·050| 86,539 9 9 | | + |April 1852 to March 1853 |1088196·550| 299,254 1 0 | 1845·450| + +-------------------------+-----------+-----------------+---------+ + | ” 1853 ” 1854 |2134891·750| 587,095 4 8 | 2943·025| + | ” 1854 ” 1855 | 501459·800| 137,901 8 11 | 657·362| + | ” 1855 ” 1856 |1138355·000| 313,047 12 6 | 1632·957| + | ” 1856 ” 1857 |1792800·000| 493,020 0 0 | 2191·367| + | ” 1857 ” 1858 |1420560·000| 390,654 0 0 | 910·264| + | ” 1858 ” 1859 |1449360·000| 398,574 0 0 | 843·679| + | ” 1859 ” 1860 |2052720·000| 564,498 0 0 | 898·837| + +-------------------------+-----------+-----------------+---------+ + | ” 1860 ” 1861 | 625714·000| 172,071 7 0 | | + | ” 1861 ” 1862 | 769680·000| 211,662 0 0 | 1032·502| + | ” 1862 ” 1863 | 532147·610| 146,340 11 10 | | + | ” 1863 ” 1864 | 835920·000| 229,878 0 0 | 811·466| + +-------------------------+-----------+-----------------+---------+ + | ” 1864 ” 1865 |1936800·000| 532,620 0 0 | 1100·169| + | ” 1865 ” 1866 |1880640·000| 517,176 0 0 | 906·407| + | ” 1866 ” 1867 |1739520·000| 478,368 0 0 | 891·389| + | ” 1867 ” 1868 | 961200·000| 264,330 0 0 | 473·724| + | ” 1868 ” 1869 | 597600·000| 164,340 0 0 | 280·764| + +-------------------------+-----------+-----------------+---------+ + +-------------------------+------------+--------------+ + | Date. | Value of |Value of Sweep| + | | Waste. | recovered. | + +-------------------------+------------+--------------+ + | | £ _s. d._| £ _s. d._ | + |August 1851 to March 1852| | | + |April 1852 to March 1853 |507 10 0 | 121 17 6½ | + +-------------------------+------------+--------------+ + | ” 1853 ” 1854 |809 6 8 | 160 12 4 | + | ” 1854 ” 1855 |180 15 6 | 69 19 2¼ | + | ” 1855 ” 1856 |449 1 3 | 104 5 7½ | + | ” 1856 ” 1857 |602 12 6 | 149 10 9¼ | + | ” 1857 ” 1858 |250 6 5 | 98 1 10 | + | ” 1858 ” 1859 |232 0 3 | 125 8 4 | + | ” 1859 ” 1860 |247 3 7 | 10 18 3 | + +-------------------------+------------+--------------+ + | ” 1860 ” 1861 | | | + | ” 1861 ” 1862 |283 18 9 | 46 7 1½ | + | ” 1862 ” 1863 | | | + | ” 1863 ” 1864 |223 3 1 | Nil. | + +-------------------------+------------+--------------+ + | ” 1864 ” 1865 |302 10 11 | 15 6 7 | + | ” 1865 ” 1866 |249 5 3 | 16 9 4 | + | ” 1866 ” 1867 |245 2 8 | Nil. | + | ” 1867 ” 1868 |130 5 6 | 121 3 3½ | + | ” 1868 ” 1869 | 77 4 2 | Nil. | + +-------------------------+------------+--------------+ + +-------------------------+------------------+------------------+ + | Date. |Value of Waste per|Value of Sweep per| + | | £1,000,000. | £1,000,000. | + +-------------------------+------------------+------------------+ + | | £ _s. d._| £ _s. d._ | + |August 1851 to March 1852| | | + |April 1852 to March 1853 | 1,315 9 5 | 315 18 1 | + +-------------------------+------------------+------------------+ + | ” 1853 ” 1854 | 1,378 10 9 | 273 11 7 | + | ” 1854 ” 1855 | 1,310 18 1 | 507 6 3 | + | ” 1855 ” 1856 | 1,434 9 8 | 333 2 3 | + | ” 1856 ” 1857 | 1,222 6 4 | 303 6 2 | + | ” 1857 ” 1858 | 640 15 4 | 251 1 11 | + | ” 1858 ” 1859 | 582 2 1 | 314 13 3 | + | ” 1859 ” 1860 | 437 17 5 | 19 6 7 | + +-------------------------+------------------+------------------+ + | ” 1860 ” 1861 | | | + | ” 1861 ” 1862 | 739 18 8 | 120 16 0 | + | ” 1862 ” 1863 | | | + | ” 1863 ” 1864 | 593 3 0 | Nil. | + +-------------------------+------------------+------------------+ + | ” 1864 ” 1865 | 568 0 9 | 28 15 7 | + | ” 1865 ” 1866 | 481 19 4 | 31 16 9 | + | ” 1866 ” 1867 | 512 8 8 | Nil. | + | ” 1867 ” 1868 | 492 16 11 | 458 7 8 | + | ” 1868 ” 1869 | 469 16 2 | Nil. | + +-------------------------+------------------+------------------+ + C. W. FREMANTLE, DEPUTY MASTER AND COMPTROLLER. + ROYAL MINT, _2nd March, 1870_. + +STATEMENT SHOWING THE AMOUNT OF SILVER COINED AND OF THE LOSS ATTENDING +ITS MANIPULATION IN THE MELTING DEPARTMENT. + + +------------------------+-----------+-----------------+ + | | | | + | Date—Financial Year. |Weight of |Value of Coinage.| + | |Coinage. | | + | | | | + +------------------------+-----------+-----------------+ + | | Ounces. | £ _s. d._| + |June 1851 to March 1852| 314689·050| 86,539 9 9¼ | + |April 1852 to March 1853|1088196·550|299,254 1 0¼ | + | ” 1853 ” 1854|2135071·750|587,144 14 7½ | + | ” 1854 ” 1855| 501459·800|137,901 8 10¾ | + | ” 1855 ” 1856|1138355·000|313,047 12 6 | + | ” 1856 ” 1857|1792800·000|493,020 0 0 | + | ” 1857 ” 1858|1420560·000|390,654 0 0 | + | ” 1858 ” 1859|1449360·000|398,574 0 0 | + | ” 1859 ” 1860|2052720·000|564,499 0 0 | + |March 1861 to June 1861| 650160·000|178,794 0 0 | + +------------------------+-----------+-----------------+ + +------------------------+---------+--------------+-------------+ + | | | | | + | Date—Financial Year. |Amount of| Value of the | Value of | + | | Loss by | Silver Lost. | Sweep Sold. | + | | Melting | | | + +------------------------+---------+--------------+-------------+ + | | Ounces. | £ _s. d._ | £ _s. d._| + |June 1851 to March 1852| | | 36 0 1 | + |April 1852 to March 1853| 1496·945| 411 13 2¼ | 111 19 4½ | + | ” 1853 ” 1854| 1814·808| 499 1 5¼ | 143 2 4 | + | ” 1854 ” 1855| 882·870| 242 15 9½ | 187 19 7 | + | ” 1855 ” 1856| 519·069| 142 14 10½ | 144 0 2¼ | + | ” 1856 ” 1857| 2912·149| 800 16 9¾ | 151 12 4¼ | + | ” 1857 ” 1858| 1001·676| 275 9 2½ | 100 13 6¼ | + | ” 1858 ” 1859| +733·101|+201 12 0¾ | 115 4 11 | + | ” 1859 ” 1860| 199·288| 54 16 1 | 101 8 8 | + |March 1861 to June 1861| 238·495| 65 9 10¾ | 49 4 4½ | + +------------------------+---------+--------------+-------------+ + +------------------------+----------------+---------------+ + | | Value of | Value of | + | Date—Financial Year. | Lost Silver | Sweep | + | | per Million | per Million | + | | Coined. | Coined. | + +------------------------+----------------+---------------+ + | | £ _s. d._ | £ _s. d._ | + |June 1851 to March 1852| | | + |April 1852 to March 1853| 1,067 0 11¼ | 383 11 1 | + | ” 1853 ” 1854| 849 19 11¾ | 243 15 0 | + | ” 1854 ” 1855| 1,760 11 11¾ |1,363 2 10 | + | ” 1855 ” 1856| 456 19 7½ | 460 0 5¾ | + | ” 1856 ” 1857| 1,624 7 1¾ | 307 10 6¾ | + | ” 1857 ” 1858| 705 2 6½ | 257 14 2¾ | + | ” 1858 ” 1859| +505 16 2½ | 289 2 10¾ | + | ” 1859 ” 1860| 97 1 8¼ | 179 13 9 | + |March 1861 to June 1861| 366 6 3¼ | 275 5 7¼ | + +------------------------+----------------+---------------+ + +To obtain the true amount of loss, deduct the value of the sweep from +the value of the silver lost. + +RETURN FROM THE ROYAL MINT TO AN ORDER OF THE HOUSE OF LORDS, DATED +17TH FEBRUARY, 1870. (THE LORD ROSSIE.) + +MELTING DEPARTMENT. + +A STATEMENT of the Weight and Value of the Silver Moneys coined in each +Financial Year from 1851 to 1869 inclusive, exhibiting the Weight and +Value of the Loss or Waste sustained in each Year, as well as the Value +of Sweep recovered, and the average Proportion of such Loss or Waste +and Sweep recovered to each Million Pounds Sterling coined. + + +-------------------------+-----------+---------------+---------+ + | Date. | Weight of | Value of |Amount of| + | | Coinage. | Coinage. | Waste. | + +-------------------------+-----------+---------------+---------+ + | | Ounces. | £ _s. d._| Ounces. | + |August 1851 to March 1852| 314689·050| 86,539 9 9 | | + |April 1852 to March 1853 |1088196·550|299,254 1 0 |1496·945 | + +-------------------------+-----------+---------------+---------+ + | ” 1853 ” 1854 |2134891·750|587,095 4 8 |1814·808 | + | ” 1854 ” 1855 | 501459·800|137,901 8 11 | 882·870 | + | ” 1855 ” 1856 |1138355·000|313,047 12 6 | 519·069 | + | ” 1856 ” 1857 |1792800·000|493,020 0 0 |2912·149 | + | ” 1857 ” 1858 |1420560·000|390,654 0 0 |1001·676 | + | ” 1858 ” 1859 |1449360·000|398,574 0 0 | 484·490 | + | ” 1859 ” 1860 |2052720·000|564,498 0 0 | 199·288 | + +-------------------------+-----------+---------------+---------+ + | ” 1860 ” 1861 | 625714·000|172,071 7 0 | | + | ” 1861 ” 1862 | 769680·000|211,662 0 0 |*+20·516 | + +-------------------------+-----------+---------------+---------+ + | ” 1862 ” 1863 | 532147·610|146,340 11 10 | | + | ” 1863 ” 1864 | 835920·000|229,878 0 0 | +48·918 | + +-------------------------+-----------+---------------+---------+ + | ” 1864 ” 1865 |1936800·000|532,620 0 0 |1516·266 | + | ” 1865 ” 1866 |1880640·000|517,176 0 0 |3296·589 | + | ” 1866 ” 1867 |1739520·000|478,368 0 0 |2923·255 | + | ” 1867 ” 1868 | 961200·000|264,330 0 0 |1526·136 | + | ” 1868 ” 1869 | 597600·000|164,340 0 0 | 599·329 | + +-------------------------+-----------+---------------+---------+ + +-------------------------+------------+--------------+ + | Date. | Value of |Value of Sweep| + | | Waste. | recovered. | + +-------------------------+------------+--------------+ + | |£ _s. d._ | £ _s. d._ | + |August 1851 to March 1852| | | + |April 1852 to March 1853 |411 13 2 | 155 19 5½ | + +-------------------------+------------+--------------+ + | ” 1853 ” 1854 |499 1 5 | 143 2 4 | + | ” 1854 ” 1855 |242 15 9 | 187 19 7 | + | ” 1855 ” 1856 |142 14 11 | 144 0 2¼ | + | ” 1856 ” 1857 |800 16 10 | 151 12 4¼ | + | ” 1857 ” 1858 |275 9 3 | 100 13 6¼ | + | ” 1858 ” 1859 |133 4 8 | 115 4 11 | + | ” 1859 ” 1860 | 54 16 1 | 101 8 8 | + +-------------------------+------------+--------------+ + | ” 1860 ” 1861 | | | + | ” 1861 ” 1862 | 5 12 10 | 203 8 10½ | + +-------------------------+------------+--------------+ + | ” 1862 ” 1863 | | | + | ” 1863 ” 1864 | 13 9 1 | 120 6 2 | + +-------------------------+------------+--------------+ + | ” 1864 ” 1865 |416 19 6 | 278 1 1½ | + | ” 1865 ” 1866 |906 11 3 | 104 5 8 | + | ” 1866 ” 1867 |803 17 11 | Nil. | + | ” 1867 ” 1868 |419 13 9 | 347 4 3½ | + | ” 1868 ” 1869 |164 16 3 | 31 0 11 | + +-------------------------+------------+--------------+ + +-------------------------+---------------+---------------+ + | Date. |Value of Waste |Value of Sweep | + | |per £1,000,000.|per £1,000,000.| + +-------------------------+---------------+---------------+ + | | £ _s. d._ | £ _s. d._ | + |August 1851 to March 1852| | | + |April 1852 to March 1853 | 1,067 0 10 | 404 5 9 | + +-------------------------+---------------+---------------+ + | ” 1853 ” 1854 | 850 1 4 | 243 15 4 | + | ” 1854 ” 1855 | 1,760 11 8 |1,363 2 10 | + | ” 1855 ” 1856 | 455 19 8 | 460 0 3 | + | ” 1856 ” 1857 | 1,624 7 2 | 307 10 6 | + | ” 1857 ” 1858 | 705 2 7 | 257 14 2 | + | ” 1858 ” 1859 | 334 5 6 | 289 2 10 | + | ” 1859 ” 1860 | 97 1 8 | 179 13 9 | + +-------------------------+---------------+---------------+ + | ” 1860 ” 1861 | | | + | ” 1861 ” 1862 | 14 14 0 | 530 3 3 | + +-------------------------+---------------+---------------+ + | ” 1862 ” 1863 | | | + | ” 1863 ” 1864 | 35 15 2 | 319 15 7 | + +-------------------------+---------------+---------------+ + | ” 1864 ” 1865 | 782 17 4 | 522 1 0 | + | ” 1865 ” 1866 | 1,752 18 2 | 201 12 9 | + | ” 1866 ” 1867 | 1,680 9 11 | Nil. | + | ” 1867 ” 1868 | 1,587 14 9 |1,313 11 3 | + | ” 1868 ” 1869 | 1,002 17 6 | 188 18 2 | + +-------------------------+---------------+---------------+ + _Note._—The Financial Years 1860/1861 1861/1862 + 1862/1863 1863/1864 exhibit a _gain_ in the + Melting Department. + C. W. FREMANTLE, DEPUTY MASTER AND COMPTROLLER. + ROYAL MINT, _2nd March, 1870_. + +By similar treatment to that applied to the table on page 132 this will +yield an average loss between June, 1851, and March, 1857, of £698 +13_s._ 3_d._ per million coined; whereas in the period from April, +1857, to March, 1860, there is a gain by melting of £87 13_s._ 3_d._ +per million pounds sterling coined. To look a little more closely into +these figures, it will be observed that in the year 1858-59 there was +a positive gain of no less than £505 16_s._ 2½_d._ on each million +coined; this is not to be explained by any known fact, but it seems +probable that in that year a circumstance occurred that had happened +many times previously, and from the prevalence of the same folly. At +the Mint Office it is the custom to weigh the silver from the coining +department to the melting department in drafts of 1,440 ounces, or +for occasions of 720 ounces. Now it not unfrequently happens that the +weigher leaves the counting of the number of drafts to his scalesman, +and so an error creeps in. Some days afterwards the coining department +finds itself short, say 720 ounces, and by searching its books +finds it has been credited with too little on a specific day; after +investigation the error is admitted, and the old receipt altered. Now +such an error happened on the 3rd of August, 1858, when 1,440 ounces, +or two journeys, were delivered, but not credited; however, on the +16th August this was discovered, and the receipt altered at the Mint +Office. It is probable that the melter never made a corresponding +alteration in his books, and if that be the case, the gain of 1858-59 +will disappear, to be replaced by a loss of £487 0_s._ 8¼_d._, which +would appear to be more natural. Should these lines meet the eye of +the officer concerned, he could at once see if this be the explanation +of so large a gain, and which has caused him much anxiety. That a gain +can be made by melting is not a fact, although, if the statement be +examined for the year 1855-56, it will be seen that a gain of £3 0_s._ +10¼_d._ appears to have been made; and once more, in 1859-60 a plus of +£82 12_s._ 0¾_d._ per million seems to have been realised. These facts, +taken as they stand, would mislead, and for reasons which shall now be +stated. Sufficient is, however, here shown to prove that the stoppage +of the use of oil effected a reduction in the habitual loss of the +melting-house, while this fact renders it impossible to show that the +stoppage of loss in the coining department was due to the more free use +of oil and dirt (see page 131). + +In July and August, 1858, the melter being absent on leave, I was +directed by written order of the Master to take his duties. Silver +being under operation, the following quantities were melted, and with +the results recorded:— + + GIVEN TO MELT. + Ounces. + Ingots and alloy 434,393·548 + Scissel 457,032·810 + Clean ends 1,440·000 + Extra alloy 499·539 + Plus on weight charged by Mint Office 51·680 + ----------- + 893,417·573 + + PRODUCED BY MELTING. + Ounces. + Bars 889,974·690 + Ends 2,154·750 + Grains 462·050 + Assays 114·230 + Loss by melting 711·853 + ----------- + 893,417·573 + +To analyse this loss—for by weight it was absolute—will give much +information, and the details of proportionate loss were as follows:— + + On each Million + Ounces Melted. + On ingots of silver (produced from lead by Pattinson’s + process) and alloy for the manufacture of medals 947·91 + On ingots, 5-franc pieces, and alloy 263·85 + On ingots, 5-franc pieces, scissel, and alloy 418·40 + Worn coin (culled from circulation) and scissel 710·06 + Scissel melted by itself 1,036·45 + -------- + Mean Loss 675·34 + +Thus, then, it appears that upon this weight of silver and alloy there +was, when melted, a loss of 711·853 ounces, or a mean loss of 675·34 +ounces in standard silver; yet, on two undoubted occasions, the table +above given[114] exhibits a gain upon the work of two whole years; +why, therefore, should the loss just stated have been permitted to +take place, when every atom of metal was weighed in the presence of +witnesses before being placed in the pots, and was not lost sight of by +the officers concerned until it was returned to the scales to be again +weighed? The reply is simple: the gain in 1855-56 and 1859-60 was not +made, and its appearance is simply a matter of account, for the melter +was not accustomed to, and probably to this day does not, weigh silver +into his melting-pots—he is, or was, satisfied with the Mint Office +weights, which are so far from accurate that no ironmonger would accept +them. + +On this melting alone, including 29 days’ receipts from the Mint +Office, there were differences to the extent of 82·11 ounces plus +their weight, and 30·43 ounces minus their weight, so that if the one +be deducted it still leaves an absolute plus on the weight charged by +the Mint Office of 51·68 ounces. Here, then, is a means of gain;[115] +but if the increase of weight derived from this source be taken on the +ingots and five-franc pieces bought, it is at the rate of 203·60 in +a million ounces purchased. Besides this, the melter is not charged +with the extra alloy he puts into his silver, and this on an ordinary +average amounts to 1,126 ounces on each million ounces wrought; so +that this work, which, in fact, did yield a loss of 711·853 ounces, +or at the rate of £796 on the million pounds sterling, would, by +the old system of computation, have lost £201. Since, then, it is +thus demonstrable that a difference of £591 arises when it is known +that the whole of the day’s work is weighed into as well as from the +melting-pot, it is but reasonable to believe that a greater difference +may have arisen when it was known by the Mint Office weigher that his +weights were not checked, and, therefore, in weighing ingots to the +melter, he probably just satisfied himself that they were as heavy as +they were charged by the bullion dealer, and allowed the plus weight +which is invariably given by that merchant to go to the melting-house +not charged into the account. It is a fact that if the weigher finds +ingots sent by the bullion dealer lighter than the weight charged, +he sends them back, this practice not being rigidly dependent on +the actual weight of the ingots as a whole; for unless each one is +distinctly heavier than the weight set against it, it is returned, or +the dealer must send silver to make up the required weight. And this +case has more than once arisen; so that in practice, if an ingot be +charged as 1,000 ounces, it must weigh indefinitely beyond that weight +up to 0·50 ounce, and is then received as 1,000 ounces; but if it +weigh in addition 0·60, then it is received as 1,000·50 ounces. These +“drafts,” as they are called, amounted on 402,573 ounces of ingots to +82·11 ounces, or at the rate of 203 per million ounces bought. When +calculating the proportion of metal for melting, it is the custom to +add 1 part of extra alloy to the thousand ounces of silver, and thus +to allow for the loss which takes place by annealing and blanching. +The extra alloy is not charged to the melter, as before said, but is +weighed to him, and thus goes really to reduce his loss; in practice +its proportionate use is increased, for after several re-meltings +of scissel (see page 35) the bars become richer in silver than is +required by the law, and then again extra alloy is added. In the case +of the silver melted in 1858 it must be stated, that if from the loss +exhibited the value of the sweep be deducted, that loss will still +be too high, because the silver had not yet been recovered from the +melting-pots; but with this allowance made, if we divide the total +value of the sweep from 1851 to 1857 by the total sum coined, we shall +arrive at a fair average price of that sweep, which may be taken at +£404 2_s._,[116] thus leaving a loss of £392 on each million pounds +sterling coined. But if, by the old style of calculation, the melter’s +loss be estimated on the weight charged to the melter by the Mint +office, it is £201, and this sum deducted from the average value of the +sweep will give a gain of £203, where it is perfectly certain, from +the extreme care which was taken, that the real loss was £392, which, +minus £54 4_s._ 7_d._, subsequently explained, becomes an absolute +loss, by melting weighed quantities, of £337 15_s._ 5_d._ per million +pounds sterling melted. Allusion has been made to the silver left in +the iron melting-pots: in the case which has been so much dwelt upon +cast-iron pots from Glasgow were used, these absorbing an exceptionally +large amount of silver. As, however, the object is to arrive at a fair +average, it will be wiser to take into consideration the ordinary +wrought-iron pot, which, although it costs more at first, is cheaper in +the long-run, as it will stand from fifty to sixty meltings, whereas +the bulk of the cast-iron pots used in 1858 leaked in the first +melting, and no one of them stood a whole day’s work. + +[Footnote 114: See page 134.] + +[Footnote 115: See pages 127, 130.] + +[Footnote 116: See page 134.] + +In treating of the melting of silver, it has been explained that +charcoal is placed in the pot, to prevent the oxidation of the alloy. +This, to a measured extent, it effects, but in the process it becomes +burned, and its ash forms a slag with the oxide of iron of the +pot, and this slag, always floating on the top of the fused silver, +gradually covers the inner surface of the pot as the silver is poured +out, and in so covering the pot secretes globules of silver in the +“pin-holes” of the iron. At the end of the useful existence of the +pot this silver is, or rather should be, obtained. The practice is to +“sweat the pot,” and to fuse in it some common table salt—chloride of +sodium. It would seem that the used-up wrought-iron pots yield by this +process, on an average, 12 ounces of silver. But all the silver is not +obtained at this operation, for the pots stand out of doors, in a yard +to which many persons have free access, for months before they are +treated professionally, and the result of the preliminary sweat which +they undergo is not a source of profit to the Mint. + +In 1858 two wrought-iron pots were locked up when their active +period had passed, and these were subsequently treated with great +consideration, with a view to ascertain their capacity for retaining +silver. They yielded under my hands:— + + Ounces. + By simple sweating 20·00 + By detaching the slag and oxide from the pot + and fusing it with salt 24·70 + By separating the remaining silver from the pin-holes + in the pot by means of diluted acid 4·60 + ------ + 49·30 + +In the whole period of that melting I used nine wrought-iron pots, of +which three were entirely used up, and six cast-iron pots, all of which +leaked—some two on one day: it would therefore seem fair to assume +that of these fifteen pots eight were worn out. We may then consider +that had all the eight pots been carefully treated, and each made to +yield its fair proportion of silver, we should have recovered silver at +the rate above shown, or 24·65 ounces from each pot, and this weight, +multiplied by eight, as proposed, will give 197·20 ounces, which, at +5_s._ 6_d._ an ounce, would be worth £54 4_s._ 7_d._, and by this +amount may that loss of £392 be reduced, when the actual loss will be +£337 15_s._ 5_d._, as determined by most carefully-conducted operations +on weighed quantities. This loss, however, is not final, although +absolute, because the sweep was sold for £289 2_s._ 10¾_d._;[117] and, +deducting this, the final loss is £48 12_s._ 6¼_d._ on each million +pounds sterling melted. There can be no doubt but that this is at +least one-third in excess of the loss which should take place; yet, +between 1851-57, it was, after all deductions for sweep, recoveries +from worn-out pots, &c., had been made, no less than £698 13_s._ 3_d._ +This excess might be accounted for either as wasteage in the melter’s +department, or as legitimate loss by melting caused by the excess of +oil sent on the scissel; but since the coiners permitted unnecessary +loss to accrue, it will be right to charge this sum to their account, +because, if they received metal free from oil, and returned it to the +melter sustaining too much oil, it is evident that they received from +their men bullion and oil in place of bullion. I therefore add £650 +0_s._ 8¾_d._, the difference between £48 12_s._ 6¼_d._ and £698 13_s._ +3_d._, to the wasteage previously explained,[118] when that sum will be +raised to £1,297 16_s._ 0¾_d._ on each million of silver coined. + +[Footnote 117: See page 134.] + +[Footnote 118: See pages 131, 136.] + +In all former calculations the value has been determined on the million +coined; but now that we approach the necessary considerations as to +the loss by melting which should absolutely take place, it becomes +necessary to state that, as a rule, 100 parts of silver bars should +produce 57 parts of coined money, and in this proportion must the value +of the sweep be reduced, that we may obtain its value proportioned to +the silver lost by weight in melting. The sweep results, as in the case +of gold, from the grinding of the burnt refuse of the melting-house, +which consists of the sweepings from the floor, partly-used charcoal, +and dirt—“matter in the wrong place,” as Lord Palmerston so aptly +designated it. At the end of the coinage this is sold, and its value +is applied to the reduction of the apparent loss by melting. In the +case now under discussion, we have found that there was an absolute +loss by weight of 711·853 ounces on 893,417·573 ounces of bullion given +to be melted. By proportion, this weight is equal to 796·764 ounces +on each million. The sweep was sold for £289 2_s._ 10¾_d._ for each +million coined; therefore, to obtain the specific amount that should +be deducted by this source from the loss, we must assume that the +coined money was 57 per cent. upon the bullion melted, when £164 16_s._ +3½_d._ becomes the value of the sweep belonging to each million melted. +Since this sum is calculated by value, we will convert it into ounces, +which is a simple process; for, as the other sums bear proportion to +pounds sterling, we have but to consider it as ounces, when the sum +we require will be 164·814. To this sum is to be added the amount of +silver due from the melting-pots, as before explained, and which is +220·724 ounces, because it has been assumed that we should obtain 24·65 +from each on the average number of pots used in melting, and this, +calculated into the million, is as above. The total of these two sums, +385·538, deducted from 796·764, leaves a final loss of 411·126 ounces +by weight in melting a million ounces of standard silver. + +By experiments made with the utmost care, I arrived at the conclusion +that, in melting silver bullion for a complete coinage, the loss by +melting should not exceed £100 on each million sterling melted, and +in this conclusion I am confirmed in a remarkable manner by Colonel +Smith,[119] who, with vast opportunities for careful every-day work and +by absolute weighing, found a loss of 200 in each million for dirt and +oxygen alone, and this he is willing to consider as 250 on each million +of scissel; but he found his loss by melting ingots 30 on the million, +and assuming that the total of a coinage would be half ingots and half +scissel, this would give an average of 140 when he was “convinced that +he was robbed,” and that this was so he proved by compelling the naked +workmen, by means of physic, to disgorge the silver they had swallowed. +He, however, was probably still robbed, for black men rub pieces of +bullion or coins together and secrete the dust obtained by that means +in their hair, and thus abstract metal from the works of the Brazilian +Mining Association, and probably from the mints in India. To such an +extent is robbery by this means carried on that the Association above +referred to causes the head of each person to be washed before he +leaves work, and thus recovers a large amount of gold dust. + +[Footnote 119: See Report by Colonel J. T. Smith on Indian Mints from +1841-2 to 1852-3. Printed by authority at Madras, 1855.] + +If then, as has been shown, there is a final loss of £411 2_s._ 6_d._ +on each million of silver melted, we must now determine that this sum +amounts to £721 5_s._ 5½_d._ on each million pounds sterling _coined_; +and since by coining a loss is sustained equal to £365 15_s._ 10½_d._, +the total final loss is no less than £1,132 7_s._ 11½_d._ per million +pounds sterling of silver coined. Such being the facts ascertained +by the scales, we find that the loss by ACCOUNT is returned at £365 +15_s._ 10½_d._ for the coining department, while, at the same period, +the melting-house account shows a gain of £87 13_s._ 3_d._, which, +deducted from the loss of the coining department, gives a final loss +equal to £278 2_s._ 7½_d._, as against, in the former period, a loss +by coining of £1,013 11_s._ 2½_d._, and by melting of £698 13_s._ +3_d._, or a total final sum of £1,712 4_s._ 5½_d._ The difference, +then, between these two final sums, or £1,434 1_s._ 10_d._, shows the +actual loss that the Mint authorities submitted to without explanation +on each million of silver coined between June, 1851, and March, 1857. +This sum is exactly 8_s._ 8_d._ for each £100 coined, while the French +contract to coin each £100 for 15_s._, including loss, wages, salaries, +&c. Although, for the sake of accurate demonstration, I have accepted +the facts as stated, it is but fair that I should compare the results +actually obtained with those stated by the usual methods, and then +the contrast will become more apparent; for whereas the proportional +loss by melting is shown to have been on weighed quantities £721 +5_s._ 5½_d._, it is a fact that by the usual methods of account, that +of neglecting to charge to the melter the extra weight added to the +ingots by the system of purchase, and omitting the weight of the extra +alloy, this loss becomes reduced to insignificant proportions, for it +was exactly £180 0_s._ 1_d._, and as the sweep sold for £164 16_s._ +0½_d._ per million melted, the final loss would be but £15 3_s._ +11½_d._ Yet, for the sake of truth, I consider it better to charge to +each department the metal by weight, and that weight should include +every atom, because then, an exceptional loss having taken place, +its significance is at once apparent; whereas, when unknown weights +are placed in the melting-pot, the losses may vary to a considerable +extent, and yet not be detected. By this plan fictitious gain becomes +impossible—apparent loss inevitable; but _that loss is so determinate_ +that it can be calculated to a nicety, and any figure obtained beyond +that _calculated_ exhibits one of two facts,—that the melting or +coining, or both, have by too great a degree refined the silver under +operation, and this is demonstrated by the final assays, or UNNECESSARY +WASTE IS AGAIN PERMITTED, but both result from carelessness; therefore +the Mint Master’s duty is perfectly clear. While, then, absolute gain +is impossible, and loss inevitable, it is, perhaps, well to exhibit the +results of Colonel Smith’s experience in the Indian Mints, because that +gentleman states that there can be no loss, and that there must be a +gain. Thus, then, he and I are antagonistic on the plainest possible +point; yet an examination of his statement will show that his gain, +although absolute, is not legitimate, but results from a near approach +to obtaining bullion without paying for it. + +It must, then, be explained that in England, and in the Indian Mints, +it is not the custom to assay bullion with a view to the determination +of its actual value, but only to the nearest part of a pennyweight. +Thus, standard silver is composed of 222 parts of silver and 18 of +copper in 240. Assuming that it is the custom to determine the amount +of silver to within half a pennyweight; and that, the assay showed +23 pennyweights and 11 grains, the silver ingot would be reported as +containing 23 pennyweights, and the owner would lose the 11 grains, +whereas it should be the custom to determine absolutely the real value +of the ingot. Now, in India, Colonel Smith found these “unreported +fractions,” when alloyed with copper, amounted to 1,230 parts on each +million purchased, so that if he paid for a million ounces, he received +1,001,230 ounces. Here, then, was part of his profit. In addition to +this gain he made another by the customary turn of the scale,[120] but +he has not told us its amount; yet his final result, from the receipt +of the bullion to its return to the merchants as coined money, is at +the rate of £1,165 gain on each million pounds sterling coined. Now +it is clear that if so large a sum as £1,230 per million is obtained +without purchase from the merchant, either that merchant should himself +saturate those unreported fractions with alloy, or make Colonel Smith’s +mints pay for them. It is asserted that this practice “exists in the +Royal Mint, but not to so large an extent;” yet Colonel Smith states it +to be at the rate of £932 per million coined. If this be the case, the +Mint books should show for its official accounts a vast gain, instead +of, as is the case represented by its purely manufacturing accounts, a +loss. This may possibly be the case, but, so far as my experience goes, +it is against the practice; for the bullion received is invariably +greater in weight than that returned in coined money. + +[Footnote 120: See pages 137-138.] + +Colonel Smith has determined with great precision that from dirt alone +there is a loss by melting of 1 part in each thousand melted. Before +he paid for bullion he invariably insisted on its being pre-melted, +because the Mint thus saved the loss occasioned by adhering dirt and +extraneous matter; this was wise if the merchants would submit to it, +but it is doubtful if English bullion dealers would first melt dollars +and five-franc pieces before selling them to the Royal Mint. + +With bullion thus manipulated I have shown that the Royal Mint also +made a gain, but such gain is not real (see pages 136, 137, 138), for +it is evident that the silver having been bought with the intention of +being converted into standard silver, each grain should be alloyed, +and the whole amount of fine silver being thus alloyed should produce +its calculated weight of standard silver; therefore in each department +every atom should be weighed, and the total weight charged to any +particular operation returned or accounted for, and under these +circumstances no gain can result. + +Colonel Smith, however, has determined with great care the following +facts from every-day work, and these are so valuable that it is deemed +wise to quote them. He found, then, that he made an actual gain by +coining from the above circumstances of 1,230 ounces on each million +ounces of rupees produced as coin. In the blanching of the blanks that +were used for the making of that coined money the loss by blanching was +at the rate of 966 ounces per million blanched, and from the acid used +in blanching he obtained 726 ounces of metallic copper, so that of the +966 ounces which disappeared only 240 ounces were a real loss, which +resulted from oxygen and dirt. Here, then, are reliable figures; and, +as he sold his sweep for a sum equal to 140 ounces of silver for each +million ounces coined, it is clear that his real loss was just 826 on +each million ounces coined. It must be seen that although the copper +was recovered, it should in these calculations be neglected, because +in the Royal Mint it is not in practice deemed wise (nor, indeed, is +it the every-day custom in India) to separate this copper; therefore +we will consider the whole matter lost to the Mint. Since, then, he +has demonstrated that he received in his clean ingots more silver by +1,230 ounces than he paid for, it is only necessary to add this sum +to the weight he charges to himself, which will then be 1,001,230 +ounces; in manipulating this total weight he shows that he lost 554 +ounces by melting and 826 ounces by blanching, or a total loss of +£1,380 per million pounds sterling. This, compared with the practice +in the Royal Mint, shows, as Colonel Smith says, that the Mints of +India do not obtain their legitimate amount of profit; and he, in +his own words, attributes the loss to what he considers its only fit +cause—“peculation.” For even in the Royal Mint—ill-managed institution +that it is—the average annual loss, taken by the system of weighing, +is only £721 5_s._ 5½_d._ Still, as showing the fluctuations, it is +curious to observe that in the last period given, viz., from March to +June, 1861, the recorded loss by melting is £91 0_s._ 8_d._, while that +by coining is £1,949 9_s._ 6_d._,[121] or a final loss of no less than +£2,040 10_s._ 2_d._ + +[Footnote 121: See pages 132-134.] + +Having given the returns relating to gold ordered by the House of +Lords, I also give those exhibiting similar details for silver, and +place that relating to coining on page 133, while that demonstrating +the facts as regards melting will be found on page 135. + +Mr. Fremantle assures us in his Report that “the ‘waste’ shown to have +existed of late years has not been excessive,” while Mr. Roberts tells +us, “The apparent loss on silver melting is two grains on the troy +pound, or 0·346 per mille, much of the metal being recoverable from +sweep.” 0·346 per mille is 346 per million, so we will take these two +statements into consideration as regards the returns now to be noticed. + +I propose to submit the following abstract from the return on page 135, +and thus bring into view _facts_ recorded by the Mint Officials, that +they may be contrasted with _opinions_ expressed by those gentlemen, +and for this purpose I deduct the value of the sweep from that of +the waste, and thus arrive at the amount of the latter, and as “of +late years” may fairly be taken to express the five last past, I will +operate on those periods only. + + +---------------+-------+------------------+------+----------------+ + |Value of Waste | |Value of Sweep per| | Final Loss by | + |per £1,000,000.| | £1,000,000. | | Melting | + | | | | | Silver. | + +---------------| |------------------| |----------------| + | |Deduct | | The | | + | £ _s. d._ | Value | £ _s. d._ |Result| £ _s. d._ | + | 782 17 4 | of | 522 1 10 | is a | 260 15 6 | + | 1,752 18 2 |Sweep, | 211 12 9 | | 1,541 5 5 | + | 1,680 9 11 | | Nil. | | 1,680 9 11 | + | 1,587 14 9 | | 1,313 11 3 | | 274 3 6 | + | 1,002 17 6 | | 188 18 2 | | 813 19 4 | + +---------------+-------+------------------+------+----------------+ + | Total Loss divided by 5 years 4,570 13 8 | + | ----------------+ + | Gives the Average Loss by Melting Silver 916 2 8¾ | + +------------------------------------------------------------------+ + +In other words, the loss which actually accrues is practically three +times as great as Mr. Roberts finds necessary, and yet Mr. Fremantle +approvingly says _it is not excessive_. I should advise Mr. Roberts +to return to the use of wrought-iron pots and pay proper attention to +the melting, FOR I HAVE PROVED that £100 on a million sterling is as +much waste as should LEGITIMATELY arise, and Colonel Smith confirms my +determinations, as will be seen at pages 140-141. If these officers +will pay sufficient attention to their business, they need not fear the +variations of assay pointed out by LEVOL. These arise, it is true, but +to an imperceptible extent only when melting is properly conducted, +as I proved to the entire satisfaction of Mr. Graham in August, 1858, +and who, in consequence, relinquished his intention of adopting the +then proposed mode of taking silver for assay from the fluid metal by +ladles. It is not by hunting hopeless hobbies that losses are to be +stopped, nor will the silver be found in the chimneys—if so, some of +it should be in those of the present Mint. Will Mr. Fremantle or Mr. +Roberts state what has become of £916 worth of silver from each million +coined in the past five years? The actual value lost is £4,580 14_s._ +6_d._, sufficient to make four immense ingots, which would surely stop +the draught of any chimney in the Mint. + +As this return has yielded matter for comment, I will refer briefly to +that which exhibits the additional loss by coining, and shown on page +133, the following abstract for the past five years will suffice. + + +-----------------------------------------------------------------+ + | Value of | | Value of | | Final Loss | + | Waste per | | Sweep per | | by Coining | + | £1,000,000. | | £1,000,000. | | Silver. | + +-------------| |--------------| |------------------| + | £ _s. d._ | | £ _s. d._ | The | £ _s. d._ | + | 568 0 9 | Deduct | 28 15 7 | | 539 5 2 | + | 481 19 4 | Value | 31 16 9 | Result | 450 2 7 | + | 512 8 8 | of | Nil. | | 512 8 8 | + | 492 16 11 | Sweep, | 458 7 8 | is a | 34 9 3 | + | 469 16 2 | | Nil. | | 469 16 2 | + +-----------------------------------------------------------------+ + | Total Loss divided by 5 years 2,006 1 10 | + | -----------------+ + | Gives the Average Loss by Coining Silver 401 4 4¼ | + +-----------------------------------------------------------------+ + +Whereas then the loss from 1851 to 1857 averaged, as I have shown on +page 131, £1,013 11_s._ 2¼_d._, and fell under my management in the +period between 1857 and 1860 to £365 15_s._ 10½_d._, it has now again +risen to £401 4_s._ 4_d._—a steady increase at the rate of 10 per +cent., which seems unreasonable. + +A rigid Parliamentary inquiry into the circumstances of the Mint is +as great a necessity at this time as it was shown to be in 1856; and +such an inquiry might demonstrate not only a want of ability, but also +whether all the officers are satisfied; whether there be not great +heart-burnings, tending to a not very complacent style of performing +their duty. + +I quote the following from Hansard’s Debates, as having occurred in the +House of Lords, to show that the Government steadily resists inquiry +into the affairs of the Mint; yet I hope the time will arrive when +Parliament will assert its right and induce Ministers to yield an +inquiry, however much “Mr. Lowe may deprecate it.” On the 22nd March, +1870, + + “LORD KINNAIRD said: I stated the other night + that great robberies have notoriously taken place, and + I maintain that these peculations and robberies still + continue. If I had an opportunity before a Committee, I + could prove this, but the returns which I have obtained + will show the correctness of what I am stating. I was not + surprised the other evening at a particular return being + refused, for the officials of the Mint naturally dislike + further exposure; but the returns before us clearly show + that under the term ‘waste,’ which should rather be + ‘stolen,’ large sums are lost in coinage. There ought to + be no loss in coinage if the Mint was properly conducted. + There might, indeed, be a small loss of £100 on the million + in the melting department; but in the coining there should + be a gain of at least £59, making the net loss £41. Instead + of this, however, there was a loss, as those returns show, + of £460 on every million coined. What becomes of that sum? + It must go into some one’s pocket, and in point of fact + it is abstracted. Look, too, at the large sums which are + paid to the Bank of England for loss every time there is a + coinage; at one time there was a loss of £1,132 on every + million for loss of gold abstracted and not returned in + coinage. From 1851 to 1857 there was a loss; in the next + two years there was a gain; the next two years there was + a loss and the following year there was a gain, and after + that losses. Now why should not the gain continue? Why + was there a gain? Because the men were properly looked + after, and could not abstract the precious metal.... I + hope your Lordships will agree to refer this bill to a + Select Committee, or will hereafter agree to an independent + inquiry into the Mint, conducted by other gentlemen than + the Chancellor of the Exchequer’s Private Secretary and the + Deputy Master.... I move that the Bill be referred to a + Select Committee.” + +I again quote Hansard’s Debates, 24th March, 1870:— + + “LORD KINNAIRD said: The noble Marquess, (the + Marquess of Lansdowne) stated on Tuesday night that there + was a considerable profit on silver, which no doubt ought + to be the case; but the returns obtained by an Honourable + Member in the House of Commons showed that, though in some + years there was a gain, in nine years the total loss on the + coinage of silver was £5,373. Bad workmanship, he might + remark, made the coins much less durable, and therefore + caused expense by rendering earlier repair of the coinage + necessary. He hoped that, later in the session, the + Government would concede an inquiry into the management of + the Mint, when he would undertake to prove his allegations + of mismanagement and peculation, and indeed the returns + proved this.... + + “The MARQUESS OF LANSDOWNE thought that the noble + Lord confounded two things. There was a loss incurred by + the public in keeping the silver coinage up to its proper + standard; but in its manufacture into coin, there was a + considerable gain, amounting to something like £20,000.” + +Again, on the 18th July, I also quote from Hansard’s Debates:— + + THE MANAGEMENT OF THE MINT.—MOTION FOR A SELECT COMMITTEE. + + “LORD KINNAIRD: I rise to move for a Select + Committee to inquire into the past and present management + of the Mint, and although I very much regret that it is the + intention of the Government not to assent to my Motion, I + feel bound, nevertheless, to call your Lordships’ attention + to the mismanagement of the Department to which my Motion + refers. It will be in your Lordships’ recollection that + when the Coinage Bill was under consideration I moved + for certain returns connected with the gold coinage, my + object being to show that considerable loss occurred in the + process of coining. Some of those returns were granted, + but others were refused on the plea that they were too + voluminous to lay on your Lordships’ table. But I have + made inquiries, and find that refusal was made because + the officials of the Mint did not wish for any searching + inquiry, and because the returns would have exposed certain + malpractices connected with the coinage. I also moved, when + the Bill was in Committee, for certain returns connected + with the coinage of silver and the transactions between + the Bank of England and the Mint. I was informed on that + occasion that no record was kept of those transactions; + I saw at the time that was a subterfuge, and that the + officials knew these returns would disclose certain + malpractices at the Mint which they would prefer were not + made public, for not only is a record of these transactions + kept, but the returns could be granted with ease. I have + found, however, that a return has been presented to the + House of Commons, which gives me the principal part of the + information I desired to obtain by the returns for which + I moved. That return, I have heard said, is not strictly + correct; but it is a return presented to Parliament, + and, as far as the figures to which I wish to refer are + concerned, I have reason to believe they must be correct. + The noble Marquess (the Marquess of Lansdowne) who answered + me on that occasion, admitted that as regards the gold + there was great loss in coinage. He said that although + the Government was not supposed to make money by the gold + coinage, they made a considerable sum by the silver; and + at another time (on the 24th March) he said that although + there was a loss resulting from keeping the silver up to + the proper standard, through wear and tear, yet on the + manufacture there was a profit of something like £20,000 + a year. Now, I am not going to hold the noble Marquess to + any statement he made on that occasion, because not being + himself connected with the Mint he must have been dependent + on the officials; but I can assure him that statement is + entirely erroneous. It is quite true that a profit was made + in the Mint in the year 1859 of £27,032 on the coinage of + silver, and this arose from the large quantity coined and + the very small purchase of worn coin. £647,064 worth of + silver was coined in that year as against a yearly average + of £341,018, and the purchase of worn coin amounted to only + £8,096 as against the average of £14,633. But although this + profit of £27,032 was made in this year, there was a loss + of £5,373 during the next nine years. Now, my Lords, as + regards the coinage of silver, there should be an uniform + profit. The price of silver is 5_s._ 1_d._ or + 5_s._ 1⅜_d._ per ounce, so that there should be + a profit of 7½ per cent. upon the silver coin. In 1868 the + sum purchased was £312,252, which should have yielded a + profit of £23,368, but the return showed a loss of £10,896; + so that, adding the loss on to what the profit should + have been, we find that the Mint was £34,265 on the wrong + side that year in its silver coinage; but inasmuch as the + loss on the purchase of worn silver was £18,058 in that + year, the net loss to the Mint through mismanagement was + £16,207. Now, what became of that sum of money? How has + it disappeared? The noble Lord admits gold was abstracted + during the process of coining, and I say that the loss now + arises from peculation. The Chancellor of the Exchequer + himself contradicts the noble Lord, and admits that there + is a loss on silver, for in the estimates I find he asked + the House of Commons to vote £1,000 to make good the loss + on silver, in addition to £15,000 for the loss occasioned + by repairing that coinage for the coming year, which has + to be paid out of the pockets of the people instead of the + Exchequer being replenished by the legitimate profit of + £20,000. But the most extraordinary loss is in the coinage + of copper. One ton of copper costs about £100, and when + converted into coin it is worth £358, giving an actual + gross profit of £258; yet I find the Chancellor of the + Exchequer asked for £1,000 last year to make good the loss + on the copper coinage. I have been rather amused to find + the Chancellor of the Exchequer speaking slightingly of the + loss on the gold coinage, saying in all probability it went + up the chimney. I think it is more likely to have gone up + “the spout.” Now, I find another item in the estimates of + £1,800 for the expenses of an inquiry into foreign Mints. + This represents the expenses of three gentlemen who are + going to inquire into the method of coining adopted on the + Continent; but, on inquiry, I find that nearly all the + machinery in use in foreign Mints went from this country, + so that we could ascertain all that we want to know about + the practice in foreign Mints, by making inquiries of + certain engineering firms in this country. I may be told + that the foreign Mints may have improved on the machinery + supplied to them, but even this may be ascertained without + going to this enormous expense. Moreover, most of the + coining on the Continent is done by contract, and it + is not likely that contractors will give a Government + Commissioner, who is competing with them by advertisement, + much information as to the way in which they carry on their + work; so that altogether this £1,800 will be completely + thrown away. And who are the gentlemen commissioned to make + this inquiry? The Deputy Master is one of them—a most + excellent, financial man; but, unfortunately, he knows + nothing of the practical part of the business, and will + gain very little by his trip. Then there is Mr. Roberts, + lately appointed chemist to the Mint; ... and the third + gentleman is Mr. Napier, one qualified in every respect + for the duty. In 1858 a sum of £1,100 was set apart for + the purchase of a filing machine in accordance with an + estimate sent in by Mr. Napier for the purpose; but, before + the order was executed, an officer in the Mint made a + machine answering every purpose, which cost only £60, and + nobody knows what became of this £1,100. I believe this + Commission is going to Spain, but Mr. Napier manufactured + the machinery in use there, so he is going to Spain to see + how his own machines work, and he is to receive £2,000 + for doing it. Perhaps, however, as the war has broken out + the trip will be postponed. Now, my Lords, what I say I + am prepared to substantiate before a Committee, and I + challenge contradiction. That an inquiry is needed even at + this late period of the session is patent, for the House + of Commons has only recently voted no less than £18,000 + to make up the losses in the Mint. Mr. Fremantle and Mr. + Rivers Wilson have made a Report on the subject of some + of these complaints, and have suggested improvements; but + these improvements would have no effect upon the working of + the establishment, and would not touch the main defects in + the system. One of the alterations made in consequence of + that Report was a revision of the scale of wages. Formerly + the workmen had a retaining fee varying from 6_s._ to + 10_s._ per week when unemployed, and a certain wage + beside when at work. But the pay was very small, and it + was thought this might lead to peculation. The scale has + accordingly been revised by the payment of £1 per week as + retaining fee, but the revision is calculated to give the + men a little less on the whole, a result to be expected + when the arrangement was made by so skilful a financier + as the Chancellor of the Exchequer, and the country saves + £100 a year out of the workmen’s wages. But the most + extraordinary part of the revision is to come; and this + affords another instance with the sugar duties, hawkers’ + licenses, and the gun tax, of the readiness with which the + Chancellor of the Exchequer jumps to conclusions, without + being at the trouble to inform himself upon the subject in + hand. The workmen are by this new scale to receive less + when coining gold than when coining silver, although the + temptation to peculation is greater, so that at the time + when their honesty should be secured by good payment, they + are to be treated with a niggardly hand, and who can be + surprised if they help themselves? The noble Marquess says + there has been only one case of dismissal for peculation; + but, if he inquires further, he will find there have been + twelve. No prosecution has followed these dismissals, nor + even an inquiry. Prosecutions would not be palatable to the + Mint authorities, because they would expose the system. + Now, I can assure your Lordships, that these statements + I have made are true in every respect, and I challenge + contradiction; and I trust the Government will think the + facts really demand a searching inquiry. More than a + year since, I brought the subject before the Chancellor + of the Exchequer, but it was pooh-poohed, and I was told + that a private inquiry would be made: but no inquiry has + been made, and the system remains unamended. I therefore + move for a Select Committee, to inquire into the past and + present management of the Mint. + + The MARQUESS OF LANSDOWNE: I regret that it is my + duty to decline to accede to the motion of the noble Lord, + but I feel sure your Lordships will admit, when I have + made a brief statement of the facts of the case, that the + Government is warranted in refusing the Committee. I must + admit that two cases of peculation have occurred at the + Mint; but the persons concerned were dismissed, and there + has been no reason to suspect a recurrence of the practice; + I am sure therefore, the noble Lord is under a + misapprehension[122] when he says there have been twelve + cases of dismissal for peculation during the last few + years. As regards the charge of wasteful management, I must + repeat the statement I made on a previous occasion. The + noble Lord, I fear, confuses two things—namely, the loss + occurring from the necessity of keeping the silver coinage + up to the proper standard, and the gain which accrues from + the coining; and, on the whole, there is a distinct gain, + although I may, on a previous occasion, have overstated the + amount. There is, notwithstanding the information of which + the noble Lord appears to be possessed, a gain of £5,000 + a year on the silver coinage. The amount of waste on the + gold coinage has, within the last few years, been extremely + moderate: it is at present, 1_s._ per £100; and an + eminent firm of refiners in the city has given an opinion + that this is very satisfactory. So much for the past. With + regard to the present, I must say that as the department + has recently been reorganised, it would be hardly fair, + before it had got into full working order, to institute + an inquiry. The staff has been reduced, thus effecting + a saving on this year’s estimates of £5,000; the system + of the payment of wages has been altered, resulting in a + small saving and in a marked effect on the staff; and the + melting and coining departments have been united, avoiding + that apparent confusion between the accounts of the two + departments, which has, in some respects, misled the + noble Lord. Lastly, I come to the Commission of Inquiry, + which has been travelling on the Continent. Now, if the + machines in use on the Continent have been mostly made at + Birmingham, much may be learnt, as to their application and + the character of the metals used, by the proposed inquiry. + As regards the members of that Commission, Mr. Roberts is + a very eminent chemist, and has proved his capabilities + by devising a system for depriving gold of the obnoxious + properties on which the noble Lord recently commented. + The noble Lord did not fail to admit that Mr. Napier was + eminently qualified for a post on the Commission; and, as + regards the Deputy Master, he has exhibited great abilities + in discharging the duties of his office, and I do not + think the noble Lord has said a single word to show he has + forfeited our good opinion. + +[Footnote 122: I am prepared to give the names of the parties dismissed +and the dates of dismissal.—G. F. A.] + +Since I am desirous of drawing attention to the affairs of a Public +Department, and to that only, I have omitted some passages in the +foregoing debates because they did not affect the subject under +discussion; still, I quote the remainder of the debate in so far as it +was personal to myself in the Appendix at pages 197-198. It will have +been seen that in these debates in the House of Lords, Lord Lansdowne, +on the part of the Government, made statements to which Lord Kinnaird, +in his honoured letter to me, alludes, I therefore proceed to offer a +few remarks. + +That Lord Kinnaird does not confound _loss on the coinage_ with loss +occasioned by the repair or “keeping of the coinage up to standard,” +is demonstrated by his lordship’s speeches, and by the return No. 157, +1869, presented to the House of Commons by Mr. Ayrton, which shows +that, in 1859, £647,064 of _coined money_ was obtained by _coining_ +£620,031 of silver purchased for coining, giving £27,033 as a clear +profit for that especial year. + +If, however, the circumstances be examined, it will be found that in +1859 only £8,096 was lost by the purchase of worn silver coin, as +against the yearly average (shown on page 5 in the return, but not +inserted by me) of £14,633. Yet even this exceptional gain is not +creditable, for, at the rate of 7½ per cent., it should have been +£46,502 instead of £27,033. + +The remaining nine years on the return—No. 157, 1869—show an average +loss by the silver coinage as exhibited in the next table compiled from +it. The Mint returns as presented to Parliament require explanation. I +have therefore added two columns to demonstrate the profit and loss. + + +-------+-----------------+-----------------+----------+-----------+ + | Date. | Total Value of | Real Cost or | Profit | Loss | + | | Silver Coined. | Value of Metal. | Realised.|Sustained. | + +-------+-----------------+-----------------+----------+-----------+ + | | £ | £ | £ | £ | + | 1860 | 218,403 | 222,981 | | 4,577 | + | 1861 | 209,484 | 215,029 | | 5,545 | + | 1862 | 148,518 | 159,948 | | 11,429 | + | 1863 | 161,172 | 171,855 | | 10,688 | + | 1864 | 535,194 | 521,003 | 14,190 | | + | 1865 | 501,732 | 483,861 | 17,870 | | + | 1866 | 493,416 | 486,113 | 7,302 | | + | 1867 | 193,842 | 195,445 | | 1,603 | + | 1868 | 301,356 | 312,252 | | 10,896 | + | +-----------------+-----------------+----------+-----------+ + | | 2,763,117 | 2,768,487 | 39,362 | 44,733 | + | | | +----------+-----------+ + | Deducting the Profit, £39,362, the Final Loss becomes £5,371 | + +-------+----------------------------------------------------------+ + +Such final loss is indefensible. Yet Lord Lansdowne is led to believe +that the seigniorage on silver yields a profit of £5,000 a year +(modified from his first statement of £20,000), whereas this return, +inclusive of the £27,033 before explained, exhibits a profit of £21,659 +in ten years, or of an average of £2,165 per annum. This statement +will, however, deceive those who rely on it, for two reasons. The year +1859, as already pointed out, is exceptional; and another return, No. +67, 1870, made to the House of Commons (see page 150) shows that, +inclusive of this anomalous gain, the silver coinage has been a source +of loss to the country to the exact average amount of 17_s._ 6_d._ +on each £100 purchased for coinage. In printing this return I have +made it up to 1868, omitting the year 1869, which alone shows a loss +of £120,000, and must therefore be an incomplete return. It is to be +regretted that the Government refused on two occasions a return of the +account of losses on silver manufacture, because such a return would +have included loss by assay as well as loss by coining and melting. +The refusals were undoubtedly based on fear of exposure, because the +return can be given readily—that they can be given, is proved by the +fact that I have read the accounts in the bill books at the Mint, and +have copies of such entries. Lord Lansdowne was instructed to state +that no such accounts are kept. The subterfuge of the Mint Authorities +consists in the fact that Lord Kinnaird has not asked for the return +in the precise words in which the account is kept; it cannot, however, +be again refused if moved for as “transferred from the account of the +Mint expenses, for the satisfaction of the Audit Office to account for +the waste or loss by coining silver.” If the Mint Authorities will +place the bill book of the Royal Mint before me for a few hours, I +will compile the table. Such a return would exhibit the fact that in +the five years last past, the loss by misplacement and mismanagement +exceeds £1,867 3_s._ 10¾_d._ per million coined; it would show that +the average amount of loss reaches 3_s._ 9¾_d._ for each £100 coined, +such sum being in fact about one-third of the total sum charged by the +contractors who conduct the coinage in Paris for France. The contractor +for the Paris Mint, in his charge, includes loss of silver by coining, +melting, and assay, wear and tear of machinery, wages to workmen for +labour, salaries and contingent expenses; and while bearing these +charges, he makes a handsome + + AN ACCOUNT OF THE SUMS ADVANCED IN EACH YEAR FROM THE + CONSOLIDATED FUND FOR THE PURCHASE OF BULLION FOR COINAGE; + AND OF THE SUMS PAID IN EACH YEAR TO THE ACCOUNT OF HER + MAJESTY’S EXCHEQUER AT THE BANK OF ENGLAND, IN REPAYMENT + THEREOF.—(PURSUANT TO ACT 7 WILL. 4, C. 9.) + + +-----+------------------+-----------------+-----------------------+ + | | Amounts Advanced |Amounts Paid into| | + |Date.| from the |the Exchequer, in| Remarks. | + | | Consolidated | Repayment of | | + | | Fund. | Advances. | | + +-----+------------------+-----------------+-----------------------+ + | | £ _s. d._| £ _s. d._| | + |1837 | 22,000 0 0 | | | + |1838 | 196,029 19 4 | 168,029 19 4 | | + |1839 | 400,000 0 0 | 350,000 0 0 | | + |1840 | 170,000 0 0 | 175,000 0 0 | | + |1841 | 100,000 0 0 | 135,000 0 0 | | + |1842 | 180,000 0 0 | 162,120 4 0 | | + |1843 | 350,000 0 0 | 265,000 0 0 | | + |1844 | 550,000 0 0 | 501,389 17 0 | | + |1845 | 850,000 0 0 | 678,772 2 9 | | + |1846 | 300,000 0 0 | 429,937 1 11 | | + |1847 | 100,000 0 0 | 217,033 10 2 | | + |1848 | | 18,534 3 1 | As given | + |1849 | 150,000 0 0 | 120,000 0 0 | in detail in | + |1850 | 150,000 0 0 | 120,000 0 0 | previous | + |1851 | 100,000 0 0 | 187,213 1 1 | Returns. | + |1852 | 391,970 0 8 | 191,970 0 8 | | + |1853 | 508,029 19 4 | 550,000 0 0 | | + |1854 | 100,000 0 0 | 200,000 0 0 | | + |1855 | 250,000 0 0 | 300,000 0 0 | | + |1856 | 450,000 0 0 | 450,000 0 0 | | + |1857 | 420,000 0 0 | 350,000 0 0 | | + |1858 | 400,000 0 0 | 400,000 0 0 | | + |1859 | 550,000 0 0 | 650,000 0 0 | | + |1860 | 270,000 0 0 | 150,000 0 0 | | + |1861 | 400,000 0 0 | 550,000 0 0 | | + |1862 | 400,000 0 0 | 350,000 0 0 | | + |1863 | 250,000 0 0 | 250,000 0 0 | | + |1864 | 600,000 0 0 | 630,000 0 0 | | + |1865 | 520,000 0 0 | 460,000 0 0 | | + |1866 | 410,000 0 0 | 510,000 0 0 | | + |1867 | 300,000 0 0 | 250,000 0 0 | | + |1868 | 220,000 0 0 | 200,000 0 0 | | + +-----+------------------+-----------------+-----------------------+ + | 32 |10,058,029 19 4 |9,970,000 0 0 |_Loss_, | + |Years| | |=£88,029 19s. 4d. 17/6=| + | | | |_on the_ =£100= | + +-----+------------------+-----------------+-----------------------+ + C. W. FREMANTLE, DEPUTY MASTER OF THE MINT. + ROYAL MINT, _18th February, 1870_. + +profit, his total sum for all being 15_s._ for each £100 coined. Is it +probable that the contractor would tolerate a charge of 3_s._ 9¾_d._ +for loss alone out of a total of 15_s._ Since the Government refuses +figures, imagination alone can tell what is the loss in the Royal Mint; +yet in the face of such facts Mr. Lowe accepts contracts as against +the French contractor to whom he sends Commissioners—one of whom +experienced “great difficulty in obtaining accurate information with +regard to the amount of loss that accrues” on gold and silver—that he +may instruct them in the cost of manufacture. Does a banker make known +his secrets? He may permit you to stand at his counter and see cheques +paid, but “thus far and no farther” is the guiding principle. Mr. +Lowe’s contract notions have been already noticed. + +To return, then, to facts admitted by the Government, and presented +to the House of Lords in obedience to Lord Kinnaird’s motion; the +return numbered 30, 1870, clearly demonstrates that there is, under +the management of the present officers, and has been for the last five +years (see pages 144-145), an average loss by coining of £401, and +by melting, of £916, or a total of £1,317 on each million of silver +coined. By way of contrast, it should be noticed that this return +exhibits the fact that, when the Mint was under my management—between +April 1857 and March 1860—the total average loss, under circumstances +every way similar, was but £395 4_s._, inclusive of “melting and the +losing operations,” for each million of silver coined. Well may the +Government refuse a return which, at the smallest possible computation, +would EXHIBIT AN UNNECESSARY WASTE TO THE EXTENT OF £922 ON EACH +MILLION OF SILVER COINED, OR EXACTLY £3,144 ON THE SILVER CONCERNED IN +THE RETURN No. 157, 1869, quoted at page 149. + +The unnecessary waste here displayed is not the only reason why silver +yields no final profit or seigniorage—and the foregoing statements +clearly demonstrate that Lord Kinnaird has not misunderstood the +accounts. The great reason of the loss occasioned by the silver +coinage, both by manufacture and by seigniorage, is want of knowledge +on the part of the Mint officials, for it can require but little +argument to show that that which costs 61_d._ and sells for 66_d._, +must, if properly manufactured, yield an absolute profit. So, to +demonstrate more clearly the exact case, we will take the real cost of +the silver for 1868 and see what profit this should have afforded, and +then Lord Lansdowne will perhaps explain why the loss arises, for this +return (see page 154) is perfectly free from all manufacturing details, +and does not include wages, officers’ salaries, or contingent expenses; +it simply states the bald fact that so much silver was bought and +converted into coined money, and by deducting one from the other there +is demonstrated an actual loss of £10,896 12_s._ Now the amount bought +was in real intrinsic value £312,252 12_s._, and this produced in +coined silver money £301,356. It has been shown in the return now under +comment that silver fetched at that period (1859-1868) 61⅜_d._ per +ounce, which, expressed in decimals, will be 61·375_d._, and silver, +by the Act of Parliament, is so coined as that each ounce is converted +into money of a nominal value of 66_d._, such extrinsic value being +given to silver because it is a token currency, and as such is a legal +tender to the limited extent of £2. The difference, then, between +66_d._ and 61·375_d._ is 4·625; if, therefore, 61·375 gives a profit +of 4·625, it follows that 100 should give 7·535; but for the sake of +simplicity we will consider this profit as at the rate of 7½ per cent.; +then £312,252 12_s._ at 7½ per cent., should yield £23,418 18_s._ +10¾_d._, yet not only was the profit lost, but, in addition, there +is a recorded—admitted—loss of £10,896 12_s._, which, added to the +loss of profit, brings that total to £34,315 10_s._ 10¾_d._; but that +Lord Lansdowne may not be unfairly pressed, Lord Kinnaird expressed +willingness to deduct from this sum the amount of loss entailed that +year by recoinage (see * below) and which was £18,058 9_s._ 6_d._, +leaving thereby an irretrievable loss of exactly £16,257 1_s._ 4¾_d._, +on that year alone. + +NO. 262.—RETURN TO AN ORDER OF THE HONOURABLE THE HOUSE OF COMMONS, +DATED 30TH MAY, 1870. (MR. AYRTON, PAGE 5.) + +_Worn Silver Coin Purchased for Re-coinage._ + + +----+-----------+-----------------+---------------+---------------+ + |Date| Weight. | Nominal Value. |Mint Value at | Loss by | + | | | |5/6 per Ounce. | Re-Coinage. | + +----+-----------+-----------------+---------------+---------------+ + | | Ounces. | £ _s. d._| £ _s. d._| £ _s. d._| + |1860| 357902·538| 113,000 0 0 | 98,423 3 9 | 14,576 16 3 | + |1861| 308873·077| 97,600 0 0 | 84,940 1 10 | 12,659 18 2 | + |1862| 425591·682| 135,000 0 0 |117,037 14 3 | 17,962 5 9 | + |1863| 324674·838| 102,800 0 0 | 89,285 11 5 | 13,514 8 7 | + |1864| 388388·152| 123,500 0 0 |106,806 14 10 | 16,693 5 2 | + |1865| 292496·983| 93,000 0 0 | 80,436 13 4 | 12,563 6 8 | + |1866| 361280·187| 115,000 0 0 | 99,352 1 0 | 15,647 19 0 | + |1867| 376142·927| 120,000 0 0 |103,439 6 0 | 16,560 14 0 | + |1868| 388878·297| 125,000 0 0 |106,941 10 6 | 18,058 9 6 | + |1869| 325976·928| 105,000 0 0 | 89,643 13 0 | 15,356 7 0 | + +----+-----------+-----------------+---------------+---------------+ + | |3550205·609|1,129,900 0 0 |976,306 9 11 |153,593 10 1 | + +----+-----------+-----------------+---------------+---------------+ + +_The Yearly Average Price paid per Ounce for Silver Bullion purchased +in the Market for Coinage in the Years 1860 to 1869, both inclusive, +was as follows:—_ + + +-----+-----+-----+-----+-----+-----+-----+-----+-----+-------+ + |1860.|1861.|1862.|1863.|1864.|1865.|1866.|1867.|1868.| 1869. | + +-----+-----+-----+-----+-----+-----+-----+-----+-----+-------+ + | _d._| _d._| _d._| _d._| _d._| _d._| _d._| _d._| _d._| _d._ | + | 61¾ | 61½ | 61½ | 61½ | 61¼ | 61 | 61⅞ | 60¾ | 60⅞ | 60⁶/₁₆| + +-----+-----+-----+-----+-----+-----+-----+-----+-----+-------+ + +_The amount of Seigniorage paid into the Exchequer in the years 1860 to +1869, has been,—_ + + +--------------+------------+-------------+-----------+------------+ + | 1860. | 1861. | 1862. | 1863. | 1864. | + | | | | | | + +--------------+------------+-------------+-----------+------------+ + | £ _s. d._ | £ _s. d._| £ _s. d._| £ _s. d._| £ _s. d._| + |27,134 1 8 |4,961 7 5 |11,227 6 2 |211 13 4 |6,160 6 8 | + +--------------+------------+-------------+-----------+------------+ + +--------------+-------------+-------------+-------------+ + | 1865. | 1866. | 1867. | 1868. | + | | | | | + +--------------+-------------+-------------+-------------+ + | £ _s. d._| £ _s. d._| £ _s. d._| £ _s. d._| + |57,645 17 9 |28,630 0 5 |4,331 10 7 |18,622 7 4 | + +--------------+-------------+-------------+-------------+ + +--------------+----------------+ + | 1869. | Total. | + | | 1860-69. | + +--------------+----------------+ + | £ _s. d._ | £ _s. d._| + |12,345 4 10 | 171,269 16 2 | + +--------------+----------------+ + C. W. FREMANTLE, DEPUTY MASTER OF THE MINT. + ROYAL MINT, _31st. May, 1870._ + +Would Lord Lansdowne like to live on a _profit_ of such a description? +Should his lordship still maintain his statement that there is a gain +from seigniorage by coining silver, perhaps he will be so good as +to explain why the Chancellor of the Exchequer asked last year for +£1,000 to “defray the anticipated loss,” as well as £15,000 to pay the +expenses of the recoinage, or “keeping the silver up to the required +standard.” It has been stated that this return is false—it is surely a +grave matter to make a false return to Parliament, in itself a crime +which should be inquired into and punished. + +The loss thus exhibited is entailed solely because the Master of the +Mint habitually wishing to keep things quiet, refuses all Parliamentary +enquiry, and contents himself with so-called retrenchment because he +deducts £100 a year from the Mint workmen. + +A continuation of the return to which Lord Kinnaird drew attention has +been presented, No. 262, 1869, signed by Mr. Fremantle. Singular to +relate, this is not merely _a continuation_, for it gives information +in regard to seigniorage, and Mr. Fremantle has amended the account +made by Mr. Graham; thus a return presented to Parliament has been +altered by Mr. Fremantle without comment, and now exhibits results +directly opposed to those shown for the same years by Mr. Graham. The +words at the head of the column are, for some reason which does not +appear, also altered, but the “real cost” of metal must mean the same +as the “total amount paid” for it. I have, therefore, compiled from +each a statement of the profit and loss; but I reproduce the figures +presented in the one case by Mr. Thomas Graham, and in the other by Mr. +C. W. Fremantle, BOTH RELATING TO THE SAME ACCOUNT, and both supposed +to be accurate (see page 154). + +It is necessary that I should state that Mr. Graham had been dead +more than a year when his accounts were altered, in the manner now +to be explained. If _his_ returns were correct, Mr. Fremantle’s must +be _incorrect_, or, “adjusted,” as Mr. Roberts would style it. If +reference be made to the table on page 154, it will be seen that by +the return No. 157, Mr. Graham showed a loss to the extent of £5,373 +4_s._ 6_d._ on nine years’ (1860-1868) silver coinage. Now, Lord +Kinnaird explained that return fully to the House, and, to prove his +accuracy, produced the return No. 30, which will be found on page 150. +Considerable astonishment was caused by such facts, but no reply was +given. However, it now appears by the return No. 262, which I print +under No. 157, and on the same page, that Mr. Fremantle has found the +means to convert Mr. Graham’s _loss_ into an absolute GAIN of so large +an amount as £1,011,668 2_s._ 0_d._, and _that without any word of +explanation_. The returns thus placed together are so contradictory, +that I confess I utterly failed to unravel them, and therefore +submitted them to more than one banker, several merchants, and, +finally, to a professional accountant, not one of whom could suggest a +key to the extraordinary process which has been adopted. + + NO. 157.—RETURN TO AN ORDER OF THE HONOURABLE THE + HOUSE OF COMMONS, DATED 21ST APRIL, 1869, FOR ACCOUNT “OF + ALL GOLD, SILVER, AND COPPER MONEYS OF THE REALM COINED AT + THE MINT, FOR EACH YEAR FROM THE 1ST JANUARY, 1859, TO THE + 31ST OF DECEMBER, 1868, &C.,” IN CONTINUATION OF NO. 340, + 1867-68. (MR. AYRTON, PAGE 3.) + + ----+-----------------+-----------------+--------------+-------------- + Date| Total Value of | Real Cost or | Profit on | Loss on + | Silver Coined. | Value of Metal.| Coinage. | Coinage. + ----+-----------------+-----------------+--------------+-------------- + | £ _s. d._| £ _s. d._| £ _s. d._| £ _s. d._ + 1860| 218,403 7 0 | 222,981 1 6 | | 4,577 14 6 + 1861| 209,484 0 0 | 215,029 0 10 | | 5,545 0 10 + 1862| 148,518 11 10 | 159,948 2 6 | |11,429 10 8 + 1863| 161,172 0 0 | 171,855 15 0 | |10,683 15 0 + 1864| 535,194 0 0 | 521,003 5 0 |14,190 15 0 | + 1865| 501,732 0 0 | 483,861 13 6 |17,870 6 6 | + 1866| 493,416 0 0 | 486,113 15 2 | 7,302 4 10 | + 1867| 193,842 0 0 | 195,445 17 10 | | 1,603 17 10 + 1868| 301,356 0 0 | 312,252 12 0 | |10,896 12 0 + ----+-----------------+-----------------+--------------+-------------- + |2,763,117 18 10 |2,768,491 3 4 |39,363 6 4 |44,736 10 10 + ----+-----------------+-----------------+--------------+-------------- + Deduct Profit, when there remains Absolute Loss 5,373 4 6 + ---------------------------------------------------------------------- + THO. GRAHAM, MASTER OF THE MINT. + ROYAL MINT, _19th April, 1869_. + +NO. 262.—RETURN TO AN ORDER, &C., DATED 30TH MAY, 1870, &c., IN +CONTINUATION OF PAPER NO. 157, OF SESSION 1868-9. (MR. STANSFELD, PAGE +3.) + + +-------+-------------------+---------------------+ + | Date. | Total Value of | Total Amount Paid | + | | Silver Coined. | for Silver Bullion. | + +-------+-------------------+---------------------+ + | | £ _s. d._| £ _s. d._ | + | 1860 | 218,403 7 0 | 141,112 7 11 | + | 1861 | 209,484 0 0 | 100,327 11 0 | + | 1862 | 148,518 11 10 | 51,165 19 11 | + | 1863 | 161,172 0 0 | 53,134 12 7 | + | 1864 | 535,194 0 0 | 445,191 11 9 | + | 1865 | 501,732 0 0 | 416,524 6 9 | + | 1866 | 493,416 0 0 | 282,247 12 6 | + | 1867 | 193,842 0 0 | 181,000 17 11 | + | 1868 | 301,356 0 0 | 80,744 16 6 | + | 1869 | 76,428 0 0 | 135,083 0 11 | + +-------+-------------------+---------------------+ + | |2,839,545 18 10 | 1,886,532 17 9 | + +-------+-------------------+---------------------- + +-------+--------------------+------------------+ + | Date. | Profit on | Loss on Coinage. | + | | Coinage. | | + +-------+--------------------+------------------+ + | | £ _s. d._ | £ _s. d._ | + | 1860 | 77,290 19 1 | | + | 1861 | 109,156 9 0 | | + | 1862 | 97,352 11 11 | | + | 1863 | 108,037 7 5 | | + | 1864 | 90,002 8 3 | | + | 1865 | 85,207 13 3 | | + | 1866 | 211,168 7 6 | | + | 1867 | 12,841 2 1 | | + | 1868 | 220,611 3 6 | | + | 1869 | | 58,655 0 11 | + +-------+--------------------+------------------+ + | | 1,011,668 2 0 (‡‡)| 58,655 0 11 | + +-------+--------------------+------------------+ + C. W. FREMANTLE, DEPUTY MASTER OF THE MINT. + ROYAL MINT, _31st May, 1870_. + +The return contains another enigma. For, whereas Mr. Fremantle, on page +3 of the return in which he has amended Mr. Graham’s figures, exhibits +profit to the extent of £1,011,668 2_s._ 0_d._ in place of Mr. Graham’s +loss of £5,373 4_s._ 6_d._—but there being a loss of £58,655 0_s._ +11_d._ on his own year’s coinage, the substituted profit(‡‡) must be +reduced by that amount, when it will be £953,013 1_s._ 1_d._ Again, +page 5, he gives a tabular statement (see page 152), by which he shows +that £171,269 16_s._ 2_d._ went to the Exchequer as seigniorage, while +the loss by recoinage amounted to £153,593 10_s._ 1_d._, leaving a +total profit of £17,676 6_s._ 1_d._ What has become of the difference +between this profit and that in the amended return?—a small matter +perhaps, but which yet amounts to £917,659 8_s._ 11_d._ in ten years. +If it were made it can be shown to have been legitimately disposed of, +or is it simply an “official statement,” such as those which public +companies have of late so frequently exhibited. If, however, that sum +has been realised, why does Mr. Fremantle show separately the amount of +seigniorage? There lies below a grave matter for inquiry why a Public +Department should place before Parliament an altered account without +one word of explanation. If Mr. Graham has put forward a false return, +one greatly against himself, it is right that the matter should be +investigated. If, on the other hand, Mr. Fremantle has placed figures +on paper which have no representatives in coin, it is indeed a grave +matter. In either case it goes to prove the necessity for a searching +inquiry into the affairs of the Royal Mint. + +Lord Kinnaird does not stand alone in his view of the loss by the +silver coinage, for Mr. William Miller, late Chief Cashier in the +Bank of England, had, years since, arrived at the same conclusion, +and produced at that time evidence to prove his statement. By the +courtesy of Mr. George Forbes, at present Chief Cashier in the Bank of +England, I am in possession of Mr. Miller’s statement (see p. 156): +its perusal induces me to wish that Government officials would put +forward statements as lucid. Mr. William Miller, in this table, adopts +a process which I am assured is entirely legitimate, and by it educes +the fact that “_the Government owes the silver coinage a million and a +half, and not as an account_.” It is perfectly true that the profit, +if made, is not supposed to be placed at interest; but it is also the +fact that the profit _has never been realised_, hence the loss of both +capital and interest. His calculations are those of an accountant, +and by them he argues that if the £6,493,000 of silver coinage had +produced its legitimate gain, there would have accrued by it, and +the interest thereon, a sum of =£3,880,000= clear profit: he then +proceeds to show how that profit has been disposed of. Being himself +aware of the amount of loss by worn coins culled from circulation, he +states it at £255,000; and estimating the loss on that which remains +current, to be eliminated in its turn, at £910,000, shows a loss by +wear and tear of £1,165,000. The details for the complete study of this +table will be found in page 65, where every information is given in +precise figures, while in this he adopts whole numbers, and proceeds +to reason out the entire matter. That he may not press the Government, +he assumes an extreme rate for the expense of coinage—varying from 2¼ +to 3½ per cent., while the real cost is about O·75 per cent.—and adds +to that amount the interest thereon, then deducting the total of these +sums from the £3,880,000 which should have arisen, he shows a balance +£1,411,000 which the Government owes to the silver coinage. While Mr. +Miller’s table on page 65 shows an average loss by wear on the silver +coinage current since 1816, at the rate of 24·31 per cent. in a hundred +years, and on that of George III.—_the most worn_—of 98·34 per cent., +the Mint—receiving its culled coin from the Bank of England—states its +loss at the rate of 135·93 per cent. in the same period (see return, p. +152). + + THE GOVERNMENT IN ACCOUNT WITH THE SILVER COINAGE. + + COINED IN THE REIGN OF GEORGE III.:— + Crowns £322,000 + Half-Crowns 2,387,000 + Shillings 3,304,000 + Sixpences 919,000 + ---------- + £6,932,000 + ========== + +Supposing the cost of the Silver to have been 5_s._ 1_d._ an ounce +in the new money, there would remain 5d. per ounce as profit to the +Government. That 5_d._ would be about 7·57 per Cent. on the amount +coined. + + 7·57 per Cent. on £6,932,000 = £525,000 + Compound Interest thereon at + 3½ per Cent. for 43 Years, the + true Average Number of Years 1,779,000 + as nearly as can be made out --------- 2,304,000 + + COINED IN THE REIGN OF GEORGE IV.:— + Crowns 141,000 + Half-Crowns 1,114,000 + Shillings 879,000 + Sixpences 81,000 + ---------- + 7·57 per Cent. on £2,215,000 = £168,000 + ========== + Compound Interest at 3½ for 35 Years 392,000 + -------- 560,000 + + COINED IN THE REIGN OF WILLIAM IV.:— + Half-Crowns 381,000 + Shillings 412,000 + Sixpences 282,000 + ---------- + 7·57 per Cent. on £1,075,000 = £81,000 + ========= + Compound Interest at 3½ for 15 years 111,000 + -------- 192,000 + + COINED IN THE REIGN OF VICTORIA:— + Crowns 117,000 + Half-Crowns 1,043,000 + Florins 1,541,000 + Shillings 2,610,000 + Sixpences 1,182,000 + ---------- + 7·57 per Cent. on £6,493,000 = £492,000 + ========== + Compound Interest at 3½ for 15 Years 332,000 + ------ + 824,000 + ---------- + £3,880,000 + ========== + + LOSS BY WEAR:— + On amount remaining in Circulation £910,000 + Ditto withdrawn from Circulation 255,000 + -------- £1,165,000 + + EXPENSES OF COINAGE:— + Crowns and Half-Crowns at 124,000 + 2¼ per Cent. + Shillings at 205,000 + 2·85 per Cent. ------- + 329,000 + Compound Interest thereon, 30 Years 594,000 + at 3½ per Cent. -------- 923,000 + + Sixpences at 3¼ per Cent. 80,000 + Compound Interest thereon, 26 Years 116,000 + at 3¼ per Cent. -------- 196,000 + + Florins at 2½ per Cent. 39,000 + Compound Interest thereon, 5 Years 5,000 + at 3¼ per Cent. -------- 44,000 + + 7·57]per Cent. on the amount of Silver + recoined at the Government’s expense 100,000 + (£1,316,500) Compound Interest, 41,000 + at 3½ per Cent. for Average of 10 Years -------- 141,000 + Balance 1,411,000 + ---------- + £3,880,000 + ========== + + I communicate this Statement as my grounds + for the Estimate that the Government owes the + Silver Coinage a million and a half, and not + as an Account. + + _December, 1860._ W. MILLER. + +It has been proposed to reap a harvest of profit from the silver +coinage, just as was done with the bronze coinage, but with this +difference—that whereas the old _copper_ pennies, when alloyed with +tin and zinc, made TWO BRONZE pennies, thus making the profit by a +diminution of weight, the present suggestion is to reduce the amount +of silver in the silver coinage, and so to get profit by converting +the old coinage into a new one of lower standard. So long as silver +is only a token it can make no difference in matter of fact whether +that token be intrinsically worth sixpence, eightpence, or tenpence, +so that it represents and is legally payable for the twentieth part +of a pound up to a fixed amount; but in another light the lowering of +the standard has a very material interest to the people, and in this +way. If those coinages which are made of different alloys from our own, +that is, in different proportions of silver and copper, be examined, it +will be found that none of them _wear_ so well as our own. Elaborate +experiments, carefully made, determined that silver, when alloyed with +copper in the proportion of 222 of the former to 18 of the latter, +formed the most fitting alloy. Tested by practice in the pocket, +those experiments are demonstrated to have been justly performed, and +that their results were accurate. It is worthy of remark, that in the +reign of Edward III. these proportions formed the _Old Standard_, +showing that long anterior to that period it had been used, although +no record is preserved. It is also certain that these same proportions +were used in many subsequent reigns, and we can but suppose that our +ancestors had their wise reasons for arriving at such a standard. +Indeed, Mr. Hatchett, in his elaborate experiments on gold and silver +coins, arrived at the conclusion that metal of medium ductility was +best fitted for the manufacture of coined money. He recommended the +preserving of the present standard for gold on that ground, and fails +to make any remarks as to silver; hence it may be fairly assumed that +he considered it the best for its purpose. It is, however, certain that +pure silver is too ductile, while silver alloyed with 20 per cent. +is really as ductile as pure silver, and in our present standard we +appear to have the medium impliedly recommended by Mr. Hatchett. The +old proportion was again adopted for our standard of silver coin when, +by the Act Geo. III. cap. 68, sec. 4, it was enacted that 66 shillings +shall be made from the pound troy of silver of the standard of 11 oz. +2 dwts. of fine silver and 18 dwts. of alloy. The alteration proposed +has varied from a mixture of 10 per cent. to one of 20 per cent. of +alloy. Now, one of these is a minute alteration, but in such matters +it is surprising to the uninitiated to find how small a variation of +proportion effects a great change in character; take, for instance, +the difference in qualities of steel, where the proportion best fitted +for each purpose must be used, or waste is incurred. In cases where +the metal is required for cutlery a different steel is selected from +that which is used for the manufacture of dies, and yet the difference +consists in a minute proportion of carbon, to be detected only by +analysis. So with the alloy of silver; and, if a profit be made by +reducing the proportion of silver, a greater loss will take place by +wear and tear, and the people pay for this, because the profit on a +silver coinage depends on the length of the period during which the +coins wear. Should a change be effected, it is to be hoped that it will +not be based on the series of experiments lately conducted in the Royal +Mint, and which were simply determinations of how much grinding each +alloy could bear under different circumstances, there being no doubt +that the proper mode is to let some thousands of coins be carried by +careful observers in their pockets in the ordinary mode of carrying +money, and at intervals to weigh those coins and see their loss, as +well as to examine them for their deterioration in an artistic point. +For it should not be forgotten that the act of coining is an important +act of Sovereignty, and should be properly performed, that the +Monarch may not appear to be held in light esteem. The ordinary wear +encountered in the use of coins by shopkeepers could also be tested +without risk or trouble. We as a people need not debase our coinage +simply for the sake of a first gain, for, if that be the object, the +Government might as well contract for advertisements, and thus make +profit; but it may fairly be doubted whether our shillings would be +improved in appearance if they were substituted for paving-stones,—the +late favourite medium for advertising. Yet, if gain alone is to be the +consideration, these points should be determined. It appears to be the +object of a coinage to make a medal which shall best encounter wear and +tear without loss or deterioration. This, we know, is best gained by +employing artists of the highest talent, and coiners who know how to +give effect to the artist’s intention. It is almost indisputably the +fact that this has never been so well performed as in the shillings +of William Wyon, designed after the bust by Chantry, and which coins, +to this day, far surpass those of subsequent coinages in every way. +The remarks of Mr. Pepys seem to be quite fitting if applied to our +present coinage, and demonstrate how truthfully it has been said that +history reproduces itself; for on Feb. 20, 1660, he says:—“... where +we met with Mr. Slingsby, who showed me the stamps of the King’s new +coyne; which is strange to see, how good they are in the stamp, and +bad in the money for lack of skill to make them. But he says Blondeau +will shortly come over, and then we shall have it better, and the best +in the world.” The protecting edge should be raised and thick, and the +work of the die well sunk, as then by friction less surface is exposed, +and the coin would not only last longer in circulation, but would +during its whole existence carry the image and superscription. While +this improvement should be effected, the note of Mr. Pepys, on the +23rd November, 1663, should not be forgotten, for he says, with great +point:—“... with Alderman Backewell talking of the new money, which +he says will never be counterfeited, he believes; but it is so deadly +inconvenient for telling, it is so thick, and the edges are made to +turn up.” Mr. Backewell had become accustomed to the _hammered_ money, +and felt the thickness of the _milled_; but we have found the advantage +of the milled money, and do not like it when, after a short existence, +it becomes as thin as the hammered money was. The protecting edge not +only protects the design on the coin, but it also makes the coin more +difficult of bending, and bent coins are troublesome. + +In former reigns unwise counsels have prevailed, and the coinages have +been tampered with; but the invariable event has been disaster, as +has been clearly shown by Mr. Lowndes, who says:—“Although the former +debasements of coins by public authority, especially those in the +reigns of King Henry the Eighth and King Edward the Sixth, might be +projected for the profit of the Crown, and the projectors might measure +that profit by the excessive quantities of alloy that were mixed with +the silver or gold, and although this was enterprised by a Prince who +could stretch his prerogative very far upon his people, and was done +in times when this nation had very little commerce, inland or foreign, +to be injured or prejudiced thereby, yet experience presently showed +that the projectors were mistaken, and that it was absolutely necessary +to have the base moneys reformed; the doing whereof was begun by King +Edward the Sixth himself, carried on by King Philip and Queen Mary, +and happily finished (though not without great charge, vexation, and +trouble, the only offspring of such designs) by Queen Elizabeth, who +(as is noted above) in the third year of her reign, when money was not +plentiful, erected a distinct Mint in the Tower to convert the base +(not counterfeit money) into sterling;” and continuing, he says:— + +“Thirdly. Because making of base money will disgrace this Government +in future generations, the critics in every age being apt to estimate +the goodness or badness of ancient Governments by their coin, as hath +been done, especially in the case of the Romans, and a temptation of +this kind ought not to be left for future ages, to the prejudice of the +honour of the present King.” + +Surely, with such experience before him, the Chancellor of the +Exchequer cannot wish to persevere with his proposal—which can hardly +be called original—to debase our gold coinage, when such a measure has +been so deliberately condemned by experience in former periods. + +STATEMENT OF WORK PERFORMED IN THE COINING DEPARTMENT BETWEEN OCTOBER +1ST, 1857, AND MARCH 31ST, 1858, INCLUSIVE. + +The Coinage was completed in 63 Days. The Value of the coined Silver +was £234177·96875. + + IN ROLLING ROOM. + +---------------------------+--------------------------------------+ + | RECEIVED. | RETURNED. | + +---------------------------+---------------+-----------+----------+ + | | | As by | As by | + | | | Rolling | Mint | + | | | Room | Office | + | | | Beam. | Beam. | + +---------------------------+----------------+-----------+---------+ + | Bars for Florins. | | | | + | Ounces.| | Ounces. | Ounces. | + | As by Mint } | | | | + | Office Beam. } 761202·00| Florin Fillets | 728342·56 | | + | | | | | + | As by Rolling } 761212·67| ” Ends | 32956·95 | 32956·90| + | Room Beam. } | | | | + | ---------+ +-----------+ | + |Showing a plus } | Deduct }| | | + | difference. } 10·67| “received.” }| 761299·51 | | + | | +-----------+ | + | | Increase }| | | + | Bars for Shillings. | during work. }| 86·84 | | + | Ounces.| | | | + | As by Mint } | | | | + | Office Beam. } 528613·00|Shilling Fillets| 504599·40 | | + | | | | | + | As by Rolling } | | | | + | Room Beam. } 528617·25| ” Ends | 24081·80 | 24081·91| + | ---------+ +-----------+ | + |Showing a plus } | Deduct }| | | + | difference. } 4·25| “received.” }| 528681·20 | | + | | +-----------+ | + | | Increase }| | | + | Bars for Sixpences. | during work. }| 63·95 | | + | | | | + | Ounces.| | | | + | As by Mint } | | | | + | Office Beam. } 175644·00|Sixpenny Fillets| 168666·70 | | + | | | | | + | As by Rolling } | | | | + | Room Beam. } 175644·54| ” Ends | 7003·10 | 7003·07| + | ---------+ +-----------+ | + |Showing a plus } | Deduct }| | | + | difference. } 0·54| “received.” }|175669·80 | | + | | +-----------+ | + | | Increase }| | | + | Bars for Threepences. | during work. }| 24·26 | | + | Ounces.| | | | + | As by Mint } | Threepenny }| | | + | Office Beam. } 33643·00| Fillets. }| 32661·25 | | + | | | | | + | As by Rolling } | Threepenny }| | | + | Room Beam. } 33642·20| Ends. }| 987·55 | 987·55| + | ---------+ +-----------+---------+ + |Showing a minus } | Deduct }| | | + | difference. } 0·80| “Received.” }| 33648·80 | | + | | +-----------+ | + | | Increase }| | | + | | during work. }| 6·60 | 65029·43| + +---------------------------+----------------+-----------+---------+ + + IN CUTTING ROOM. + -----------------------------+-------------------------------------+ + RECEIVED. | RETURNED. | + -----------------------------+----------------+----------+---------+ + | | As by | As by | + | | Cutting | Mint | + | | Room | Office | + | | Beam. | Beam. | + -----------------------------+----------------+----------+---------+ + Fillets for Florins. | | | | + Ounces. | | Ounces. | Ounces. | + As by Rolling } | | | | + Room Beam. } 728342·56| Florin Blanks |433013·65 | | + | | | | + As by Cutting } | | | | + Room Beam. } 728339·29| ” Scissel |295327·34 |295327·98| + ----------| |----------| | + Showing a minus} | Deduct }| | | + difference. } 3·27| “received.” }|728340·99 | | + | |----------| | + | Increase }| | | + Fillets for Shillings. | during work. }| 1·70 | | + | | | | + Ounces. | | | | + As by Rolling } | | | | + Room Beam. } 504599·40| Shilling Blanks|320518·84 | | + | | | | + As by Cutting } | | | | + Room Beam. } 504598·71| ” Scissel|184117·20 |184117·20| + ----------| |----------| | + Showing a minus} | Deduct }| | | + difference. } 0·69| “received.” }|504636·04 | | + | |----------| | + | Increase }| | | + Fillets for Sixpences. | during work. }| 37·33 | | + | | | | + Ounces. | | | | + As by Rolling } | Sixpenny }| | | + Room Beam. } 168666·70| Blanks. }|101407·09 | | + | | | | + As by Cutting } | Sixpenny }| | | + Room Beam. } 168666·25| Scissel. }| 67271·99 | 67271·99| + ----------| |----------| | + Showing a minus} | Deduct }| | | + difference. } 0·45| “received.” }|168679·08 | | + | |----------| | + | Increase }| | | + Fillets for Threepences. | during work. }| 12·83 | | + | | | | + Ounces. | | | | + As by Rolling } | Threepenny }| | | + Room Beam. } 32661·25 | Blanks. }| 19373·13 | | + | | | | + As by Cutting } | Threepenny }| | | + Room Beam. } 32661·25 | Scissel. }| 13293·73 | 13293·73| + --------- | |----------|---------| + Showing no } | Deduct }| | | + difference. } 0·00 | “received.” }| 32666·86 | | + | |----------| | + | Increase }| | | + | during work. }| 5·61 |560010·90| + -----------------------------+----------------+----------+---------+ + + IN WEIGHING ROOM. + +----------------------------+-------------------------------------+ + | RECEIVED. | RETURNED. | + +----------------------------+----------------+-----------+--------+ + | | | As by | As by | + | | | Weighing | Mint | + | | | Room |Office | + | | | Beam. |Beam. | + +----------------------------+----------------+-----------+--------+ + | Blanks for Florins. | | | | + | | | | | + | Ounces. | | Ounces. | Ounces.| + | As by Cutting } | | | | + | Room Beam. } 433013·65 |Florin Blanks. | 423988·43 | | + | | | | | + |As by Weighing } | | | | + | Room Beam. } 433010·55 |Florin Rejected.| 9020·63 | 9020·63| + | --------- + +-----------+ | + |Showing a minus } | Deduct } | | | + | difference. } 3·10 | “received.” } | 433009·06 | | + | | +-----------+ | + | | Loss during } | | | + | Blanks for Shillings. | work. } | 1·49 | | + | | | | | + | Ounces. | | | | + | As by Cutting | | | | + | Room Beam. } 320518·84 |Shilling Blanks.| 315492·95 | | + | | | | | + |As by Weighing } | Shilling } | | | + | Room Beam. } 320516·07 | Rejected. } | 5021·79 | 5021·79| + | --------- + +-----------+ | + |Showing a minus } | Deduct } | | | + | difference. } 2·77 | “received.” } | 320514·74 | | + | | +-----------+ | + | | Loss during } | | | + | Blanks for Sixpences. | work. } | 1·33 | | + | | | | | + | Ounces. | | | | + | As by Cutting } | Sixpenny } | | | + | Room Beam. } 101407·09 | Blanks. } | 99083·98 | | + | | | | | + |As by Weighing } | Sixpenny } | | | + | Room Beam. } 101406·65 | Rejected. } | 2223·63 | 2223·63| + | --------- + +-----------+ | + |Showing a minus } | Deduct } | | | + | difference. } 0·44 | “received.” } | 101407·61 | | + | | +-----------+ | + | | Increase } | | | + | Blanks for Threepences. | during work.} | 0·96 | | + | | | | | + | Ounces. | | | | + | As by Cutting } | Threepenny } | | | + | Room Beam. } 19373·13 | Blanks. } | 19326·87 | | + | | | | | + |As by Weighing } | Threepenny } | | | + | Room Beam. } 19372·96 | Rejected. } | 46·03 | 46·03| + | --------- + +-----------+--------+ + |Showing a minus } | Deduct } | | | + | difference. } 0·17 | “received.” } | 19372·90 | | + | | +-----------+ | + | | Loss during } | | | + | | work. } | 0·06 |16312·08| + +----------------------------+----------------+-----------+--------+ + + + IN ANNEALING ROOM. + +---------------------------+--------------------------------------+ + | RECEIVED. | RETURNED. | + +---------------------------+---------------+-----------+----------+ + | | | As by | As by | + | | | Annealing | Mint | + | | | Room | Office | + | | | Beam. | Beam. | + +---------------------------+---------------+-----------+----------+ + | Blanks for Florins. | | | | + | | | | | + | Ounces. | | Ounces. | Ounces. | + |As by Weighing } | | | | + | Room Beam. } 423988·43 | Florin Blanks | 423606·37 | | + | | | | | + | | Loss of }| | | + |As by Annealing} | Weight by }| | | + | Room Beam. } 423984·25 | Annealing and}| 367·84 | | + | -----------+ Blanching. }| | | + | | +-----------+ | + |Showing a minus} | Deduct }| | | + | difference. } 4·18 | “received.” }| 423974·21 | | + | | +-----------+ | + | | Loss | 10·04 | | + | Blanks for Shillings. | | | | + | | | | | + | Ounces. | | | | + |As by Weighing } | | | | + | Room Beam. } 315492·95 |Shilling Blanks| 315190·47 | | + | | | | | + | | Loss of }| | | + |As by Annealing} | Weight by }| | | + | Room Beam. } 315490·42 | Annealing and}| 283·86 | | + | -----------+ Blanching. }| | | + | | +-----------+ | + |Showing a minus} 2·53 | Deduct }| 315474·33 | | + | difference. } | “received.” }| | | + | | +-----------+ | + | | Loss | 16·09 | | + | Blanks for Sixpences. | | | | + | | | | | + | Ounces. | | | | + |As by Weighing } | Sixpenny }| | | + | Room Beam. } 99083·98 | Blanks. }| 98980·28 | | + | | | | | + | | Loss of }| | | + |As by Annealing} | Weight by }| | | + | Room Beam. } 99083·67 | Annealing and}| 103·39 | | + | -----------+ Blanching. }| | | + | | +-----------+ | + |Showing a minus} | Deduct }| | | + | difference. } 0·31 | “received.” }| 99083·67 | | + | | +-----------+ | + | | Loss | 0·00 | | + | Blanks for Threepence. | | | | + | | | | | + | Ounces. | | | | + |As by Weighing } | Threepenny }| | | + | Room Beam. } 19326·87 | Blanks. }| 19304·08 |Supply.[123]| + | | | | | + | | Loss of }| | | + |As by Annealing} | Weight by }| | | + | Room Beam. } 19326·72 | Annealing and}| 22·64 | 47·67 | + | -----------+ Blanching. }| | | + | | +-----------+ | + |Showing a minus} | Deduct }| | | + | difference. } 0·15 | “received.” }| 19326·72 | | + | | +-----------+----------+ + | | Loss | 0·00 | 47·67 | + +---------------------------+---------------+-----------+----------+ + +[Footnote 123: See page 162.] + + IN PRESS ROOM. + +---------------------------+-----------------------------------------+ + | RECEIVED. | RETURNED. | + +---------------------------+-----------------+----------+---------+ + | | | As by | As by | + | | | Press | Mint | + | | | Room | Office | + | | | Beam. | Beam. | + +---------------------------+-----------------+----------+---------+ + | Blanks for Florins. | | | | + | | | | | + | Ounces. | | Ounces. | Ounces.| + |As by Annealing} | | | | + | Room Beam. } 423606·37 |Florin Coin |420367·28 |420278·40| + | | | | | + |As by Press } | | | | + | Room Beam. } 423606·37 |Florin Brockages.| 2951·76 | 3069·61| + | -----------+ | | | + |Showing no } | Florin Pyx }| | | + | difference. } 0·00 | Pieces. }| 283·86 | 283·86| + | | +----------+ | + | | Deduct }| | | + | | “received.” }|423602·90 | | + | | +----------+ | + | |Loss | 3·47 | | + | Blanks for Shillings. | | | | + | | | | | + | Ounces. | | | | + |As by Annealing} | | | | + | Room Beam. } 315190·47 | Shilling Coin |313853·64 |313847·00| + | | | | | + |As by Press } | Shilling }| | | + | Room Beam. } 315190·47 | Brockages. }| 1227·88 | 1228·17| + | -----------+ | | | + |Showing no } | Shilling Pyx }| | | + | difference. } 0·00 | Pieces. }| 107·87 | 107·87| + | | +----------+ | + | | Deduct }| | | + | | “received.” }|315189·39 | | + | | +----------+ | + | |Loss | 1.08 | | + | Blanks for Sixpences. | | | | + | | | | | + | Ounces. | | | | + |As by Annealing} | | | | + | Room Beam. } 98980·28 | Sixpenny Coin | 98279·81 | 98271·65| + | | | | | + |As by Press } | Sixpenny }| | | + | Room Beam. } 98980·28 | Brockages. }| 678·84 | 678·84| + | -----------+ | | | + |Showing no } | Sixpenny Pyx }| | | + | difference. } 0·00 | Pieces. }| 21·18 | 21·18| + | | +----------+ | + | | Deduct }| | | + | | “received.” }| 98979·83 | | + | | +----------+ | + | |Loss | 0·45 | | + | Blanks for Threepences. | | | | + | | | | | + | Ounces. | | | | + |As by Annealing} | Threepenny }| | | + | Room Beam. } 19304·08 | Coin. }| 19145·45 | 19159·20| + | | | | | + |As by Press } | Threepenny }| | | + | Room Beam. } 19304·08 | Brockages. }| 154·85 | 154·85| + | -----------+ | | | + |Showing no } | Threepenny }| | | + | difference. } 0·00 | Pyx Pieces. }| 3·02 | 3·02| + | | +----------+ | + | | Deduct }| | | + | | “received.” }| 19303·32 | | + | | +----------+---------+ + | |Loss | 0·76 |857103·65| + +---------------------------+-----------------+----------+---------+ + + Ounces. + Total received from Mint Office 1499104·00 + ” returned to ” ” 1498503·73 + ---------- + Loss 600·27 + ========== + + The proportional loss on this coinage was 0·199 ounces on each 500 + ounces coined, instead of 1 in 500 as the Master had expected must + be the case. + + The mean rate of + The Ends was 3·94 per cent. on the Rough Bars. + ” Scissel was 37·85 ” ” ” + ” Rejected Blanks was 0·89 ” ” ” + ” Brockages was 0·38 ” ” ” + ” Coined Money was 56.87 ” ” ” + ” Coined Money was 59·22 ” ” Clean Bars + + WAGES PAID TO WORKMEN BY PIECE-WORK SCALE. + +-------------------+---------+-----------+-----------+------------+ + | | Florins.| Shillings.| Sixpences.|Threepences.| + +-------------------+---------+-----------+-----------+------------+ + | For Melting | 13·215| 9·176 | 3·079 | 0·584 | + | ” Rolling | 45·521| 42·045 | 28·111 | 8·165 | + | ” Cutting | 44·165| 46·008 | 28·899 | 8·052 | + | ” Annealing | 35·300| 45·965 | 28·869 | 11·260 | + | ” Coining | 29·192| 39·231 | 24·570 | 9·572 | + +-------------------+---------+-----------+-----------+------------+ + | Total wages paid | £167·393| £182·425 | £113·528 | £37·633 | + +-------------------+---------+-----------+-----------+------------+ + | Rate paid for each| | | | | + | 100 lbs. troy of | £0·475| £0·697 | £1·386 | £2·358 | + | Coined Money. | | | | | + +-------------------+---------+-----------+-----------+------------+ + + +------------------------+--------------------+-------------------+ + | | Rate per cent. of | Rate per cent. of | + | | Coined Money from | Coined Money from | + | | Rough Bars. | Clean Bars. | + +------------------------+--------------------+-------------------+ + | Florins | 55·26 | 57·76 | + | Shillings | 59·38 | 62·22 | + | Sixpences | 55·96 | 58·29 | + +------------------------+--------------------+-------------------+ + | | + | _To the_ MASTER OF THE MINT. | + | GEORGE F. ANSELL. | + | _May 6th 1858._ | + +-----------------------------------------------------------------+ + +It would appear necessary that I should now give[124] a copy of one +of the reports I made to the Master, showing for silver a similarly +detailed history of its manipulation to that which was given for gold +(see page 92); and as that was fully explained, it is felt unnecessary +to say more of this report than to point out that the blanks are +simply stamped in the press room, and that as this operation produces +no alteration of weight, the losses recorded were due to abstractions +of coined money, and were reported to the Master as such, while the +loss exhibited in the annealing room was also due to the same cause. +The loss which appears to have arisen in the weighing room arises from +another cause. The blanks when operated upon lose little splinters of +metal, which are preserved, and at the end of the coinage go to a fund +of odd pieces, which are melted; and the ingot produced is assayed, its +estimated amount of silver is determined, and this is called _supply_, +and will be seen to be 47·67 ounces for the whole department, although +it appears in the annealing room account, because it is usually cleaned +in that room. + +[Footnote 124: See pages 89, 160-161.] + +As regards the accounts for the rolling and cutting rooms, it would +be a source of interest to the curious could they but examine the +books and compare them for periods previously to and after 1857, when +it would be demonstrated that nearly the whole of the losses above +explained took place in those rooms. I stopped these _evaporations_, +and removed the word _loss_ which was habitually printed at the foot +of each day’s account, replacing it by the word GAIN, because that +significant word expressed what should have happened, and that which +under me did really take place in these rooms. + +It is remarkable, but even in so simple a matter as the bronze coinage +there also arises a large loss—that is, a great part of the profit is +lost. I therefore propose to say a few words upon this subject, and +see if reason will confirm the facts of experience. The average value +of copper is about £100 a ton, and this may be assumed as the average +price of bronze in ingots. It is perfectly well understood that bronze +and copper coins are both accepted as token money; but some amongst us +may remember when copper pennies were so coined as that each penny was +intrinsically worth that sum, the intention being that any customer +could check the honesty of the shopkeeper when he bought an ounce of +tea or tobacco, by placing his “cart-wheel-penny” against the commodity +still in the scale. Experience, however, demonstrated that this was +not a right footing for a subservient coinage. It was found that when +copper in the market fluctuated to a price beyond 1_d._ per ounce, this +coinage was collected and melted. Therefore it was determined to make +the intrinsic far below the extrinsic value, and then to limit the +legal tender to 2_s._ in nominal value in copper money. + +In 1860 the copper token money was replaced by bronze token money, and +the weight of this was still farther reduced, so that the intrinsic +value of a penny became as nearly as possible one farthing—that is to +say, a farthing’s worth of copper or bronze had given to it in the act +of coining an extrinsic value equal to a penny, by which a profit of +300 per cent. would appear to be realised. But since some of the bronze +is coined into pence, halfpence, and farthings, and these vary in +their proportional intrinsic value, it is felt to be fair to give the +Government every possible latitude, because Lord Kinnaird evidently +accepted those facts when he made his speech in the House of Lords. + +Bronze costs £100 a ton, and a ton of bronze is, on an average, +converted into £358 when coined—that is to say, £100 intrinsic value +receives by the act of coining an extrinsic value equal to £358, and +so yields a profit of £258. Yet the Chancellor of the Exchequer last +year asked for, and obtained, £1,000 _to defray the loss on bronze_, +the fact being that on the value coined—£10,010—there should have been +a clear profit of £25,825. And it so happens that, by the return No. +157, 1869, a profit is admitted to the modest extent of £6,318 0_s._ +2_d._ Why was the £1,000 asked for, and what became of the £6,318 0_s._ +2_d._? and further, why was that modest sum allowed to take the place +of the proper profit, or £25,825? + +The return above quoted, No. 157, 1869, shows that in the nine years, +1860-1868, the purchase value of copper bought for coinage was +£489,071, and the same return shows that this intrinsic value was +converted into money of the nominal value of £991,833; therefore, +by deducting the cost from that sum, there appears a clear profit +of £502,762 on bronze since 1860, which is at the moderate rate of +£102 per cent. on the outlay. It will be well to investigate farther, +and perhaps to take the contract given to Messrs. James Watt and Co. +for 1,720 tons in 1860. The sum paid to that firm, added to the cost +of copper supplied to them for the manufacture of bronze to produce +1,720 tons of coin, was £229,200; and the 1,720 tons of bronze money +forwarded to the Mint by the terms of that contract was, in nominal +value, when delivered, £696,293, so that the profit on that one +transaction was £467,093, or at the rate of £203 per cent. on the +outlay. The last coin (a penny) to complete this contract was struck by +Messrs. Watt at 9 A.M. on Thursday, the 11th of June, 1863; so that the +coinage, which has been conducted since that period, has been struck +under the superintendence of the present Mint officials. The return +No. 157, 1869, shows that, at the period when the Mint was receiving +bronze coin from the contractors, and was at the same time coining +bronze—viz., from 1860-1863, the profit was diluted from 258 to 108 per +cent.; but when the Mint took the whole manufacture from 1864 to 1868, +under Mr. John Graham alone, that profit was further lessened to 78·70 +per cent., or rather less than £78 15_s._ was made where £258 should +have been made. + +The Mint officials may, and probably will, plead that this return, as +well as that relating to silver, is “false;” still they must stand +or fall by their own figures, or issue intelligible and trustworthy +returns to the orders of the House of Commons; and these exhibit the +fact that Messrs. Watt’s contract gave a profit of 203 per cent.; +the Mint and Messrs. Watt’s contract jointly of 108 per cent.; the +Mint solely, of only 78¾ per cent. It will probably be asserted that +the purchase of the old copper money caused the apparent loss; but +this argument will be disposed of if we take the case of 1863, up +to which period 1,651 tons 8 cwts. 2 qrs. 27¾ lbs.; of worn copper +coin had been purchased at an absolute cost of £234·80 per ton. To +assume then that this was the cause for diminished profit, let us +see if it can be proved to demonstration. I have shown that a ton of +bronze money is worth £358, and a ton of copper, when bought as old +coin, £234·80; therefore, the copper so bought should yield profit of +about £152·50 per centum. But it should do more than this; for I, of +my own knowledge,—because I ordered it,—state that bronze was bought +to a considerable amount at the then current rate of new copper. The +following, however, is the worst that could happen:—If the whole of +the old copper cost £234·80 per ton, when converted into bronze money, +it would produce £358, or equal to £152·5 per cent. profit. Upon what +ground then can the profit—when new copper at the lower price is +bought—be reduced so low as to 108 per cent., and then fall to £78·70 +per cent. on the copper purchased? Were any prosecutions made, or +were men simply told their “services were no longer required?” If the +accounts were investigated by a professional accountant, what amount of +loss in weight—in addition to the loss by dirt which amounted to 0·41 +per cent. on each ton melted—would be shown when they were balanced? +Another curious inquiry might be made:—At what rate for labour was +bronze money coined in the Royal Mint after the cessation of the +contract? It might be found to be exorbitant. + +Since, however, Lord Kinnaird directed attention to this subject, +Mr. Fremantle has adjusted the return No. 157, as regards bronze, in +a manner similar to, yet differing from, that relating to silver. I +propose to insert copies of these returns, following the arrangement +adopted for those relating to silver; and it will be seen that whereas +Mr. Graham showed a profit of £502,761 11_s._ 11_d._ between the years +1860-68, _without an instance of loss_, Mr. Fremantle not only alters +all the figures relating to the copper purchased, but reduces Mr. +Graham’s profit to £403,376 18_s._ 6_d._ and shows _a loss_ in 1864 to +the extent of £31,896 13_s._ 4_d._; which sum, deducted from £435,273 +11_s._ 10_d._, yields the profit Mr. Fremantle is willing to admit. +I am fully aware that “figures may be made to tell anything;” but +until the year 1870 I was not aware that Parliament would permit its +returns to be altered, amended, or adjusted without leave or a word of +explanation. Surely such an occurrence, added to evidence previously +adduced, will cause some independent member to “tackle” even Mr. Lowe +in the House of Commons. Why Mr. Fremantle, in the case of silver, +converts loss into profit, and in that of bronze reduces, apparently +without reason, the amount of profit, should be explained. I have done +my share in calling attention to the facts. It should be pointed out +that the figures relating to 1869 in the following return are inserted, +but not demonstrated, because I wish to mark emphatically the fact +that it is Mr. Graham’s figures alone which are made to perform these +operations, while those of Mr. Fremantle yield a profit of £12,476 +4_s._ 6_d._, or at the rate of £137·35 per centum on the copper +purchased. + + + NO. 157.—RETURN TO AN ORDER OF THE HONOURABLE THE HOUSE + OF COMMONS, DATED 21ST APRIL, 1869, FOR ACCOUNT “OF ALL GOLD, + SILVER, AND COPPER MONEYS OF THE REALM COINED AT THE MINT, FOR + EACH YEAR FROM THE 1ST DAY OF JANUARY, 1859, TO THE 31ST DAY OF + DECEMBER, 1868, &C.,” IN CONTINUATION OF NO. 340, 1857-68. (MR. + AYRTON, PAGE 4.) + + +--------+---------------+--------------+--------------+-----------+ + | Date. |Total Value of |Purchase Value| Profit on | Loss on | + | |Copper Coined. | of Copper. | Coinage. | Coinage. | + +--------+---------------+--------------+--------------+-----------+ + | 1860: | £ _s. d._| £ _s. d._| £ _s. d._| £ _s. d._| + |Copper | 134 8 0 | | | | + |Bronze | 37,856 0 0 | 9,185 2 11 | 28,805 5 1 | | + +--------+---------------+--------------+--------------+-----------+ + | Bronze:| | | | | + | 1861 |273,578 13 4 | 96,735 6 8 |176,843 6 8 | | + | 1862 |352,800 0 0 |203,389 0 0 |149,411 0 0 | | + | 1863 |151,648 0 0 | 82,482 0 0 | 69,166 0 0 | | + | 1864 | 18,069 6 8 | 9,660 0 0 | 8,409 6 8 | | + | 1865 | 57,493 6 8 | 31,740 0 0 | 25,753 6 8 | | + | 1866 | 50,624 0 0 | 26,910 0 0 | 23,714 0 0 | | + | 1867 | 33,301 6 8 | 18,960 0 0 | 14,341 6 8 | | + | 1868 | 16,328 0 2 | 10,010 0 0 | 6,318 0 2 | | + | +---------------+--------------+--------------+-----------+ + | |991,833 1 6 |489,071 9 7 |502,761 11 11 | | + +--------+---------------+--------------+--------------+-----------+ + THOS. GRAHAM, MASTER OF THE MINT. + ROYAL MINT, _19th April, 1869_. + + NO. 262.—RETURN TO AN ORDER OF THE HONOURABLE THE HOUSE OF + COMMONS, DATED 30TH MAY, 1870, IN CONTINUATION OF PARLIAMENTARY + PAPER, NO. 157, OF SESSION 1868-9. (MR. STANSFELD, PAGE 4.) + + LEGEND: + (A) = Total Value of Copper Coined. + (B) = Total Amount Paid for Copper Bullion and Old Copper Coin. + +-------+----------------+---------------+---------------+------------+ + | | | | | | + | Date. | (A) | (B) | Profit on | Loss on | + | | | | Coinage. | Coinage. | + +-------+----------------+---------------+---------------+------------+ + | 1860: | £ _s. d._| £ _s. d._| £ _s. d._| £ _s. d._| + |Copper | 134 8 0 | 16,317 10 0 | 21,672 18 0 | | + |Bronze | 37,856 0 0 | | | | + | | | | | | + |Bronze:| | | | | + |1861 | 273,578 13 4 |117,963 10 0 |155,615 3 4 | | + |1862 | 352,800 0 0 |230,784 3 0 |122,015 17 0 | | + |1863 | 151,648 0 0 |136,315 0 0 | 15,333 0 0 | | + |1864 | 18,069 6 8 | 49,966 0 0 | |31,896 13 4| + |1865 | 57,493 6 8 | 16,518 0 0 | 40,975 6 8 | | + |1866 | 50,624 0 0 | 9,273 0 0 | 41,351 0 0 | | + |1867 | 33,301 6 8 | 6,260 0 0 | 27,041 6 8 | | + |1868 | 16,328 0 2 | 5,059 0 0 | 11,269 0 2 | | + |1869 | 20,832 0 0 | 8,355 15 6 | | | + | +----------------+---------------+---------------+------------+ + | |1,012,665 1 6 |596,811 18 6 |435,273 11 10 |31,896 13 4| + +-------+----------------+---------------+---------------+------------+ + C. W. FREMANTLE, DEPUTY MASTER OF THE MINT. + ROYAL MINT, _31st May, 1870_. + +The foregoing is demonstrative of the processes of coining as conducted +in the Royal Mint, and of the system which prevails in that Department; +I feel it right, however, to add an epitome of the trial of the pyx, a +custom established by the Mint Indenture of 18th Edward III. + +I will describe the trial which took place on the 17th of July, 1861, +when the Lord Chancellor Westbury presided in the absence of the Queen, +whom he represented as though she were personally present. It should +have commenced at nine o’clock in the morning, but some delay was +caused by the inability to open the pyx chamber in Westminster Abbey, +owing to the rusting of the locks. The Lord Chancellor was supported +by the following members of the Most Honourable the Privy Council, +Lord Granville, the Duke of Argyll, Sir Edward Ryan, and the Right +Hon. Robert Lowe; Lord Monteagle attending officially with the trial +plates in sealed packages. The jury of twelve men selected by the +Goldsmiths’ Company was then sworn in due form. Lord Monteagle next +declared that the trial plates were standard according to law, and +that they were in the same state, and that the seals were in the same +state, as when deposited in the pyx chamber. The Lord Chancellor then +charged the jury, telling them of the prerogative of the Crown, and +that the Sovereign has a right to issue money bearing her image and +superscription, and that the people take such money in commerce because +it is guaranteed of certain purity, that this guarantee also insures +the receiving of the money by foreign nations; and that these facts +made the attesting of its purity a vital point, that all people might +be assured by their verdict that the money issued is in accordance +with the law, both as to weight and fineness. The Lord Chancellor then +explained the laws relating to the coinage, and that the Master of the +Mint, who was present, would, if their verdict were favourable, be +discharged from further liabilities as to the coin he had made up to +the 31st of December, 1860. After this the Lord Chancellor dwelt upon +the antiquity of the trial of the pyx very briefly, and then explained +that the word _pyx_ is of Greek origin, and means “box”—the box in +which is placed the money to be tested by the jury. He then explained +the law as to the custody of the pyx and of its keys, and passed on to +the latitude allowed for errors as to the standarding of the alloy, +and for the remedy by weight for each pound of manufactured coin;[125] +stating that there had been one adverse verdict found by a jury at +the trial of the pyx, but that the present verdict would doubtless be +favourable to the Master of the Mint, who would then be discharged from +further liabilities by Royal letters-patent. He then adjourned the jury +to the Goldsmiths’ Hall to make the necessary tests and trials of the +coin, desiring that they should afterwards deliver their verdict to +him, either at the House of Lords at six o’clock, or at his residence +at eight o’clock. Lord Monteagle then handed the trial plates to the +foreman of the jury. The trial plates are wide ribbons of gold and of +silver, about as thick as a florin, and indented on the edges. The face +of each plate is stamped with the obverse impression of a sovereign +die; and the date of its manufacture, with the proportion of its alloy, +is engraved on each plate. + +[Footnote 125: Specified by the Mint Indenture, which was legalised by +the Act of Parliament 56 Geo. III. cap. 68, sec. ii.] + +The jury, having arrived at the Goldsmiths’ Hall, proceeded to count +and weigh the gold and silver moneys of Sir John Herschel, and of +Thomas Graham, Esq.; they then selected a fixed number from the coins +of each Mastership for trial by assay, following a process similar to +that described at pages 10-14. The jury also tested the coined money by +weight, but did not test any individual coin (see new law, pages 70-73) +as to its weight, because the old law only required the coined money to +be within the limits of weight allowed, supposing a fixed number of any +coins to be weighed against a standard pound. The limit, or remedy, was +12 grains on each pound weight troy of gold coin, or about O·2568218 +grain on each sovereign, and 24·00 grains on each pound weight troy of +silver coin. After the assay the jury agreed upon a verdict, which was +to the effect that the moneys of both Masterships were found by them to +be within the remedy, both as regards weight and fineness. This verdict +was delivered at eight o’clock P.M., at the Lord Chancellor’s private +residence. The Master of the Mint was present, with his Deputy Master +and other officers, during the trial. The total amount in the pyx at +this trial was £36,417 10_s._ in gold moneys, and £807 4_s._ 3_d._ +in silver moneys, and from these the jury selected a total of 60·616 +ounces of gold and 71·018 ounces of silver for the assays. + +In the same manner the trial of the pyx was held at Westminster on the +19th January, 1866, the only difference consisting in the fact that +at that time £34,927,008 8_s._ 0¼_d._ in coined gold, and £1,556,100 +11_s._ 10_d._ in coined silver were submitted to this test. + +In an earlier page[126] I have expressed my views as to the +worthlessness of the farce called the _Trial of the Pyx_. While I +studiously avoid altering that expression of opinion, I am sorry +that the _last_ Trial of the Pyx under the ancient law took place +on Tuesday, the 15th day of February, 1870. I could have felt less +regret at the removal of this ancient custom from one law to another, +had there been provision for its better execution; but simply to do +away with the sacred charm of antiquity, and to enact a troublesome +deception, is worse than a blunder; it is, in my antiquarian view, a +crime. + +[Footnote 126: See pages 53-56.] + +The _Trial of the Pyx_—now, without meaning, as well as a farce—is to +be held, under the Act 33 Victoria, chap. 10, at least once in every +year. Why not daily throughout the year—that its absurdity may be +demonstrated more markedly? Had it been as it should have been, a real +trial of the Pyx, instead of an examination with a foregone conclusion +of certain coins; “at least once in every year,” would have been not +only justifiable but right. + + + + +CONCLUDING REMARKS. + + +Throughout the foregoing pages I have endeavoured to point out the +causes which lead to mismanagement in the Royal Mint, and I should +be glad if I could see a reason to hope that this state of things +was likely to terminate. However, there seems to exist an obstinate +determination to maintain the present arrangements. If proof of this +be required, it exists in the re-issue of Pistrucci’s device on the +sovereign of 1871, which meets with deserved condemnation from all +classes of opinion. It is a wrong to Pistrucci’s memory to append his +initials to a coin so mutilated. While, however, Mr. Fremantle thinks +it economy to continue—_vide_ “European Mints”—the present system of +the die department of the Royal Mint, the nation must bear the disgrace +inherent to such determination. There is, however, reason to believe +that this subject will be forced upon the Master of the Mint, for it +is now attracting considerable attention. That St. George, seated on +his horse, should be placed in a concavity, is perhaps intended to +symbolise the necessity for washing from him the dirt in which he has +of late been bathed; but that thus sinking the work on a coin is wise +may be questioned, for our coins should represent medals, not saucers +of tarnished copper. Instead, however, of altering the effigy of her +Majesty, they at the Mint have made an unwise alteration of the eye +alone, and which gives a very unpleasant expression. The necessity for +the issue of this new coin arose from the fact of the alteration from +base to standard coin (see pages 54-56), and its design is really a +Hall mark to point out to the Mint authorities the real value of the +coin. When purchased for melting, five hundred of these coins will be +worth £500, but an equal number of coins of the previous issue is worth +only £499; so that by the alteration the Bank of England now loses +£2,000 which it before enjoyed from this source, quite independently of +the profit demonstrated at pages 126-127. + +I have insisted on the necessity for a different system as applied to +the chief engravership of the Royal Mint, and, consequently, for a new +effigy of her Majesty on the coins of the realm. I had hoped that when +the George and Dragon was issued, a new device would also appear, and +that this did not take place is a subject of universal regret. There +appears to be a want of knowledge as to the cause for retaining the +present obverse; I therefore mention it. The objection to change arose +with his late Royal Highness the Prince Consort, who resisted any +alteration of the design in the die of the face of her whom he loved +so well. This fact probably prevents the issue of a coin from the new +pattern die which is prepared in the Mint. + +The want of knowledge exhibited in the Royal Mint is further +demonstrated by the recommendations of Mr. Napier, who has not been +at the pains to understand the cutting-out presses which he condemns. +I concur, however, in that condemnation; for these machines should +be small, powerful, and diaphanous, if I may so interpret that word; +not heavy and light-obstructing as at present. Such a machine can +readily replace the present machinery, which, with one coining press +and its complete accompaniments, will find a fitting home in the South +Kensington Museum. Had we in these days the inventive minds of past +generations, we might hope to see the principle of the screw press +of Mr. Boulton so modified and applied to the other presses in the +Mint, that they would require but little more space than that occupied +by themselves alone; indeed, such an instrument seems but a natural +result of the existence of Mr. Boulton’s press, and coins, intended to +represent medals, should be formed by a blow, not by gradual pressure. +That the Chancellor of the Exchequer for the time being should be +Master of the Mint is perhaps the strongest proof of the ignorance +on the subject of the Parliament which passed the Act that can be +produced. It keeps the Deputy-Master of the Mint, by his own admission, +continually journeying between the Mint and the Treasury Chambers to +instruct the Master, instead of, as he should be, attending to the +arrangements of the Mint. Parliament, I hope, will yet see that the +master of a working Department should be a practical, not merely a +financial or political man. + +When the new Coinage Act was passing through Parliament, a clause was +introduced which has enabled any person to send gold to the Mint for +coinage free from expense, except loss of interest. Colonel Tomline, +M.P., has been the first to avail himself of this right, and I happened +to be with that gentleman on the 4th February, 1871, when he received +from the Mint £100 in coined gold, of which he gave me a specimen. +This is the first time that a private person has attempted such an +invasion of the prescriptive rights of the Bank of England, and by it +he has made a clear gain of 1¾_d._ (although in this instance he lost +profit by assay and trade practice), for he sent an ingot which weighed +25·681 ounces—seller’s weight at £3 17_s._ 9_d._ an ounce—and received +back from the Mint 25·684 ounces of sovereigns, or in excess weight +0·003 ounce. The time occupied was twenty days. The principle thus +established is a great one, and it is to be hoped that Colonel Tomline +will carry his point against the Master of the Mint as regards a free +coinage of silver; for while the Government claims the exclusive right +to coin silver, its workshop—the Mint—refuses to issue coined silver to +the public. That department sells threepenny pieces because the Bank of +England will not take the trouble; but all other silver coin goes to +that institution, to be issued by it to bankers alone in bulk. + +Colonel Tomline will perhaps consider the wisdom of re-establishing +an Exchange where those who have an excess of bronze or silver can +exchange it for gold, and those who wish it can obtain the subservient +coinages. + +There are strong reasons why the Royal Mint, instead of the Bank of +England, should purchase gold bullion and pay for it in Mint notes, +but, leaving the full consideration of this part of the subject for +a future opportunity, it seems that there can be little doubt of the +fairness of my proposition to charge one pound for the coining of +each thousand sovereigns, this sum being quite sufficient even under +the present system to protect the Mint from loss, while it is certain +that it would, under efficient management, yield a profit. If, then, +beyond this degree of protection against pecuniary loss by the gold +coinage the average amount of silver and bronze were coined, the +Royal Mint should be—and under proper control would be—not only a +self-supporting Department, but one of actual profit, just as the Post +Office has become, instead of, as at present, a vast abyss into which +a great amount of money is thrown, never again to appear. It must not +be conceived that my wish or intention is to do violence to those who +hold office; my desire has been to point out the irregularities which +prevail, and at the same time, from experience gained under exceptional +opportunities, and by perseverance under adverse circumstances, +to develope the actual facts, so that when these are known the +irregularities, to say the least of it, may be remedied. + +I cannot assert that my descriptions explain the operations at the +Mint as now conducted; but this I do feel, that if such suggestions as +I have made for improvements in the operative department were alone +followed in their entirety, the result would be a clear saving of at +least £4,000 a year; while, if the other propositions which I have +endeavoured to demonstrate are carried into effect, it seems perfectly +clear that the Chancellor of the Exchequer need not apply year after +year to include in the estimates the large amount required to meet the +losses of the Mint. + +It is due to myself to state that the manuscript for my late edition +was in the hands of the Publisher at the time of Mr. Graham’s death, +and on the occurrence of that event I, at great expense, altered many +passages which I had written, with an especial view to Mr. Graham’s +replying to them. + +I wish to state that my object is to point out the system and its +results; and in case the feelings of any gentlemen should be hurt, +I must apologise to them, pleading the necessity, when a discussion +on the Mint is pending, that all who are acquainted with the subject +should exhibit facts relating to it, that when the whole matter is +fairly considered a true judgment should be arrived at; for, as +Archbishop Whateley has truly said, “The deadliest of all falsehoods is +the lie of suppression.” + + + + +APPENDIX. + + + TO THE RIGHT HONOURABLE LORD KINNAIRD, K.T. + + 27, BERNARD STREET, RUSSELL SQUARE, W. C. + _February 8th, 1871._ + + MY LORD, + +I shall feel obliged if I may thank you for your Lordship’s letter +of the 7th inst., in which you request from me—in consequence of the +remarks made on my character by Mr. Lowe in the House of Commons, +and by the Duke of Argyll and Lord Lansdowne in the House of Lords—a +history of my connection with the Mint. + +In compliance with your Lordship’s request, I proceed to put in +writing an account of my association with and severance from the +Royal Mint. That I may occupy as little of your Lordship’s valuable +time as possible, I have selected certain passages from the Treasury +correspondence which relate to myself. I am not aware that I have at +all unduly interpreted those letters, or that, by omitting parts, I +have made them appear more favourable to myself than they were intended +by their authors to be. If, however, the Government should so view +these extracts, may I beg of your Lordship to move for the complete +correspondence, the publication of which would, I believe, more fully +demonstrate my “case.” I possess copies of that correspondence, but +extracts from it will convey all that concerns myself; to this there is +one exception, and I beg to submit a considerable portion of one letter +from the Master of the Mint to the Treasury, because its contents fully +bear out my statement that great irregularities had existed and were +checked. Indeed, I now invite your Lordship’s attention to a passage +in that letter because the Mint is at present conducted at extravagant +expense, while its losses of bullion reach far towards the former +average. Mr. Graham says, “The diminished waste of late years (1857-60) +is further attended with increased economy in working, of which, +indeed, a low waste return is one of the surest indications.” + +The correspondence which your Lordship has so generously placed at my +disposal, I also include that my account may be complete, although +necessarily brief. I should also state that, by the rules of the Civil +Service, an extra clerk cannot approach the head of his Department +without permission from his superior officer. Yet your Lordship will +observe that the Master of the Mint not only received my reports, but +addressed orders to, and treated me as, the chief on whom he relied, +as is proved by his writings now copied as well as by those in my +possession. + +In the early part of the year 1856 the Master of the Mint found himself +so beset with difficulties arising from irregularities committed by +those who should have supported him, that he formed a determination to +engage a person on whom he could rely in the Coining Department, and +who at the same time had sufficient personal influence and knowledge of +the work to check those irregularities which he knew were taking place, +but which were beyond his personal supervision. These irregularities +were known to the Government of that period, and had caused so vast +an expense that that Government, which was presided over by Lord +Palmerston, had intimated to the Master, that unless the Mint could +be conducted more satisfactorily and economically, it would be broken +up as an imperial establishment, and thus necessitate the placing +of the coinage in the hands of contractors. With this view papers +were printed and issued to various firms; but Mr. Graham, being very +sincere and energetic in his desire to so conduct the Mint as that +this necessity should not arise, sought the advice of engineers and +others, with a view to finding such a man as combined within himself +the qualities which he saw to be necessary. Finally, by the advice +of Dr. A. W. Hofmann, he called upon me at my residence in October, +1856, and related to me in detail the facts above alluded to, and +explained precisely the position of affairs at the Mint, giving me +the names of the troublesome persons, and showing his own position to +be so intolerable, that without some one on whom he could rely, it +would be impossible for him to continue his Mastership. Mr. Graham +then proceeded to tell me what had passed between Dr. Hofmann and +himself as to my fitness for the work required, and explained clearly +the impossibility of placing me in a secure position or in high +office at first, but that if I would accept a supernumerary clerkship +temporarily, he would, when I had effected the object of his desires, +advise my promotion to the office then held by Mr. W. T. Brande, when +that office should become vacant. With this understanding I agreed +to accept the position proposed if duly appointed; but that I might +be able to carry out such reforms as were necessary, I insisted on +sufficient power being given to me by himself or by the Government. In +pursuance of this agreement, Mr. Graham recommended my appointment in +a letter to the Treasury, dated 29th October, 1856, in the following +terms:— + +“I desired to introduce a young man, recommended by scientific and +technical information available in coining, by energy of character, +and by tried ability in the supervision of workmen—a faculty by no +means common. After applying to Mr. William Fairbairn and to Mr. George +Rennie, who both recommended candidates, and making inquiry in various +other quarters, I have been led to propose the name of Mr. George +Frederick Ansell as temporary clerk. Mr. Ansell was educated under Dr. +Hofmann, and acted for some years as his laboratory assistant. He has +since been Scientific Director in the Panopticon, Leicester Square, +which was lately broken up. He appears to be a person of superior +education and ability, and great activity and vigour of character, and, +as I have been assured, has shown much discretion in the management of +both pupils and workmen.” + +Mr. Graham announced to me my appointment in the following note:— + + “_Royal Mint, November 6th, 1856._ + “MY DEAR SIR,— + “I am happy to inform you that your nomination to office in the + Mint has been approved by the Treasury. + + “Would you favour me with a call to-day before three o’clock, if + quite convenient; or, if not, to-morrow morning after eleven. + + “Ever truly yours, + “GEORGE FREDERICK ANSELL, ESQ.” “THOMAS GRAHAM. + + +I was thus appointed to a supernumerary clerkship, and took office in +the Rolling Room of the Royal Mint; but before doing so I particularly +inquired of Mr. Graham, in the presence of Mr. W. H. Barton, the then +Deputy-Master, what authority I should have, and how far I should be +supported if I attempted to enforce obedience, and whether I was at +liberty to call for statements and examine original documents and +books. He verbally authorised me to examine such books as I wished +to examine, and desired Mr. Barton to give me such statements or +information as I might ask for; and as to my authority, he said, “If +you order the men to dance a hornpipe on the table, they shall do it, +and all orders shall pass through your hands.” With such power, and a +salary of £120 a year, or rather £10 a month, I took office on the 12th +November, 1856. + +An examination of the books in the Royal Mint will prove that I quickly +corrected the irregularities in the Rolling Room, and increased the +amount of finished work by 100 per cent. Loss of bullion became unknown +in that room. + +In the Adjusting and Cutting Room, however, the losses and rejected +work continued to be astounding, the loss averaging seven ounces of +gold per diem, and for days together running so high as twelve ounces. +The Master had many times urged me to relinquish the direction of the +Rolling Room, and to take charge of the Cutting Room. I, however, +maintained that it was wiser “to begin at the beginning and clear up as +I went.” To this he reluctantly assented, but on the 25th of February, +1857, the officer who had charge of that department, as well as of the +Weighing Room, exhibited so decided an opposition to the written order +of the Master, that it became necessary for me to yield the point. +On that day I changed duties with the officer alluded to. The Master +wished me also to superintend and assist the officer so removed to the +Rolling Room, and I made a note to that effect in the official book of +that department, which doubtless still remains. + +It had been the custom with officers in the Mint to consider it +derogatory to understand practically the machines in use, and the +officer whom I replaced did not know for years afterwards whether the +cylinders used in the Drag Bench were fixed or movable, and described +them as “going round like the rollers!!!” I had, however, a different +opinion; and, notwithstanding the scorn and contempt of the “gentlemen” +of the Mint, made myself minutely acquainted with all details, so +that I could perform the manual labour of each workman; this had been +observed, and when I took charge of the Adjusting and Cutting Rooms +the foreman of those rooms barricaded himself in his recess with a +determination to prevent me seeing his operations. I stepped from one +copper trough to another, and thus placed myself at his side, greatly +to his astonishment. His remarks were significant, “You mean to learn +the duties?” “I do.” To which he replied, “Man proposes, God disposes.” +I directed the removal of the barricades, and invited the foreman into +my private room, where a little conversation enabled him to understand +his new officer. + +I then delegated to Mr. Richard Pilcher the charge of the Weighing +Room, and gave him the key of the stronghold in that room: while I +remained in the Mint he retained that position, and still holds it. He +served me faithfully and fearlessly. + +Subsequently I weighed to the foreman of the Cutting and Adjusting +Room, in the presence of himself and the workmen, a given weight of +gold, which I watched in its progress, and weighed at each stop. As was +to be expected, there was a final increase of weight: many explanations +were asked, and given; but I firmly demanded all the gold so delivered, +each day, and thus replaced _habitual loss_ by habitual gain. + +Without passing into too minute detail, it is sufficient to state, that +while some men were removed, others were introduced. That these changes +were made by me I can conclusively prove by the Master’s written orders +and letters to that effect. But the following letter to the Treasury +seems to tell an indisputable tale. + + EXTRACTS FROM LETTER OF MASTER OF THE MINT TO THE + LORDS OF THE TREASURY. + _Royal Mint, August 6, 1857._ + + “The late foreman, who was dismissed.... The dismissal of + J—— B——, late foreman in the Adjusting and Cutting + Rooms, arose out of an investigation respecting the nature + and extent of the waste of bullion in the operations of + coining, which is a subject demanding the most watchful + attention in the direction of a Mint. This loss is + understood to have been represented by the moneyers as + averaging 7 parts in 10,000 parts of gold coined, or £700 + in one million sterling coined; and it has continued + undiminished under the new arrangements. Such an amount of + loss of metal appeared to me excessive, and certainly is so + when compared with the corresponding loss in the Mint of + Paris, which I am informed on good authority lies between + 3 and 5 parts only in 10,000 parts of metal, and this with + much hurry of execution, and with inferior machinery, and + other circumstances against the Paris Mint. + + “The appointment of the new officers, Mr. —— and Mr. + Ansell, in the Coining Department gave me means of laying + out the inquiry with effect. It is a subject of considerable + difficulty from the circumstances that the losses to be + detected, as they occur, are minute in themselves, although + their cumulative effect is great; and such losses are + often masked and concealed by legitimate change of weight + in the bullion, due to oxidation of the alloy, adhering + oil, &c. Without entering into details I may state that I + have reasons to believe the inquiry will result in a large + reduction of our waste, and great profit to the Mint, which + I trust will appear in the returns of the next gold coinage. + A portion of the loss is traced to culpable proceedings on + the part of the dismissed foreman, who, as tryer of fillets, + appears to have occasioned much mischief by producing bad + work (blanks out of remedy) seemingly with a purpose. + + * * * * * + + “By the vigorous action of two of these officers, Mr. —— + and Mr. Ansell, great economy has been enforced throughout + the Coining Department. Mr. Ansell, since his appointment in + November last, has been acting on the salary of a temporary + clerk, £10 a month, with the addition of £2 10_s._ per + month when engaged from 8 A.M. till 6 P.M. + I now beg strongly to recommend that Mr. Ansell’s + monthly salary shall be increased to £12 10_s._, in + consideration of his valuable services, with the addition of + £2 10_s._ per month when engaged from 8 A.M. + to 6 P.M. as heretofore. + + * * * * * + + (The master then goes on to request my Lords to do this + for Mr. Ansell.) + “THO. GRAHAM. + “_August 6, 1857_ (No. 1114).” + + In this letter the Master justly attributes the stoppage + of the losses to the dismissal of J—— B——, at my + recommendation, and in consequence of my investigation, as + is proved by my Report to the Master, and by his letter to + the Treasury, copies of which I can furnish; but that this + was the case is demonstrated by the following order:— + + “_Royal Mint, 10th July, 1857._ + + “Ordered that J—— B—— be discharged from the service of + the Mint, in consequence of frequent neglect and inaccuracy + as Tryer in the Adjusting and Cutting Rooms of the Coining + Department, in accordance with the Report of Mr. Ansell, of + July 8th. Confirmed by Mr. Buckle. + + (Signed) “THO. GRAHAM.” + +(EXTRACT.) LETTER FROM THE TREASURY TO THE MASTER OF THE MINT. + + “_25th August, 1857._ + + “My Lords sanction proposed arrangements of the 6th, but + desire to receive a Report of the circumstances connected + with the dismissal of J—— B——, in consequence of the + investigation respecting waste of bullion. + + (Signed) “W. H. STEPHENSON. + “_Mint (No. 1163), 27th August, 1857._” + +I, in consequence of this letter from the Treasury, went to Somerset +House and to Doctors’ Commons, and obtained many particulars relating +to J—— B——; and the Master wrote a Report to the Treasury, of which I +have, and can produce, a copy: it is dated 15th June, 1858. + + (EXTRACT.) LETTER FROM THE LORDS OF THE TREASURY TO THE + MASTER OF THE MINT. + + “_Treasury Chambers, 3rd September, 1858._ + + “SIR, + + “In reply to your letter, dated 17th ultimo, recommending + the grant of increased salaries to Messrs. —— and Ansell, + I am commanded by the Lords Commissioners of Her Majesty’s + Treasury to state, that although they readily admit + Messrs. —— and Ansell’s claims upon their favourable + consideration, they cannot authorise the full amount + recommended for them: their Lordships are pleased to fix + Mr. —— and Mr. Ansell’s salary at two hundred and twenty + pounds a year, including the allowance hitherto received by + him for additional attendance—both these augmentations to + take effect from the commencement of the present year. + + (Signed) “C. E. TREVELYAN. + “_Treasury (No. 14409), 3rd September._ + “THE MASTER OF THE MINT.” + +Notwithstanding these facts the Master of the Mint, towards the +end of 1859, showed by his actions that he meant to introduce his +bankrupt brother, to whose character your Lordship alluded in the +House of Lords; and whose ignorance of the duties, coupled with great +inequality of temper and intemperate habits, rendered him totally unfit +for the office. Such being the unmistakable intention of Mr. Graham, +who disregarded the advice tendered to him by influential persons, I +addressed to him the letter which follows:— + + TO THE MASTER OF THE MINT FROM GEORGE F. ANSELL, ESQ. + + “_Royal Mint, January 6th, 1860._ + + “SIR, + + “I trust you will accord to me the regret with which I bring + to your notice affairs relating to myself. Circumstances + have placed me in a position which is very anomalous, while + my salary is such that I find it quite impossible to manage + my payments so as to keep free from debt, and I now most + unwillingly approach you upon the subject, hoping that + you will permit me to place in your hands the grounds on + which I rest my hope, that my application will receive your + favourable and early consideration. On the 12th of November, + 1856, I entered the service of the Mint as a Supernumerary + Clerk, and subsequently passed the examination which was + enforced by the Civil Service Commissioners, as that process + was thought by you to be to my ultimate advantage. + + “In my first interview with you I expressed surprise at the + large losses which you said were occurring, notwithstanding + the weight of oil which was added to the precious metals in + the processes of coining. My conviction of the impossibility + of this loss arising if proper supervision were exerted was + so great that I at once stated to you, in the presence of + Mr. Barton, that there should be no loss at all upon either + gold or silver; but that if oil were used there should be an + increase of weight. + + “You, sir, gave me such authority in the Coining Department + as would enable me to establish my proposition, which you + then said was contrary to the facts as found in the Royal + Mint, as well as in the Paris Mint. + + “By your orders I commenced my duties in the Rolling Room, + and was soon satisfied that the irregularities which + existed would quite explain the losses which had taken + place. I reported to you faithfully from day to day all + irregularities, but upon none did I dwell so earnestly as + upon the errors in, and differences of, weighing, attended + by circumstances of which I feel it unnecessary to remind + you, unless I say that they were reduced and overcome by no + ordinary perseverance and at great personal risk. + + “While the balances were in error it was impossible to + determine how great the losses were, for they were stated + to be more differences of weighing than anything else; but + I felt it incumbent on me to experiment carefully on the + gold which we were then coining, that I might thus satisfy + myself and you of the truths of my proposition. The average + of five preceding year’s gave a loss of 597·55 ounces on + each million ounces coined; and the result of my first + years experimenting was an average loss of 31·06 ounces on + the million ounces coined. While the second year gave an + absolute increase of weight of 9·22 ounces on the million + ounces coined. + + “Your mind will picture the interests which I disturbed, and + give me credit for the moral courage which became necessary + to support the violent enmity which my course drew down on + me, for you are aware of the vigour with which I was met by + adverse opinions from Messrs. ——, ——, ——, and ——; + these gentlemen, as well as the Junior Clerks, who were + supposed to be my colleagues in the Coining Department, + openly maintaining that there were, and had been, no + unnecessary losses. Threats of personal violence did not + deter me from my duty; but the men being well plied with + arguments by the Messrs. ——, ——, who were supported by + Mr. ——, rendered my course extremely difficult. + + “Mr. —— accused me of adding more oil than he used to + permit, and so explained the—as he called it—“apparent + stoppage of the losses;” but the fact of my using less + oil than had ever been known was so notorious that he + subsequently admitted it; nevertheless, the accusation + induced me to experiment, and these experiments resulted + in the total abolition of the use of oil in the Rolling + Room, and on the Cutters; while the minute amount which was + necessary at the Draw-Bench was carefully wiped off before + the blanks were cut out. + + “Now that the use of oil is abolished gain is impossible, + but the loss is invariably covered by the amount for which + the sweep is sold, so that my proposition is now more + satisfactorily proved than ever. Contemporaneously with + these facts I had to encounter equally serious difficulties + in the subject of rejected blanks, which reached 70 per + cent. on the whole number of blanks cut; but the common + average was from 30 to 35 per cent. By rigid experiments, + conducted by my own hands, I reduced these abominations to + 1·00 per cent. on silver, and to 4·00 per cent. on gold, + without the aid of Mr. Pilcher’s excellent filing machine. + + “In the year 1857-58, I coined by my own + arrangements—although my plans were strongly combated at + the time—the largest amount of gold coin ever yet produced + in a given time, conducting the coinage without loss, and + with a total of 4·50 per cent. of rejected blanks. A large + quantity of this gold contained osmium-iridium, but I coined + it without its being first refined. + + “In 1859 I coined about £250,000 (64,790·224 ounces) of a + peculiarly brittle gold, which was delivered to the Bank + of England in June and July, 1859. I believe this to be + the first time that brittle gold has been coined so as to + produce perfectly good and tough coins. + + “Permit me to remind you that all the elements of wrong + still remain in the Mint, and would be re-exerted in the + absence of your Mastership; for not one of those officers + who permitted these things has been removed. + + “As a consequence of the abolition of the use of oil in the + Coining Department, the losses in the Melting-House are + greatly reduced. + + “In addition to my works in the Coining Department, I beg to + state that I have, by my own hands, reduced the losses in + the Melting-House (this was done during the time of using + oil in the Coining Department) 33 per cent.; and my figures + were not only admitted by Mr. Mushet, but absolutely proved + by him to be below the truth. + + “It would be wrong in me to lead you to suppose that I + have performed these works without active co-operation; I + therefore freely acknowledge the services of Mr. —— during + these past two years, and I beg to be permitted to say that + he is now rendering you most efficient services. + + “If I have to acknowledge the services of Mr. —— I feel + myself bound in justice to say more of Mr. Richard Pilcher, + who has, under peculiar circumstances, rendered you through + me most valuable services; he has done many things greatly + to the advantage of the Mint. In times past, Mr. Pilcher + has borne a life best described as that of ‘a toad under + a harrow,’ and his position remaining the same, although + his present circumstances are altered, he would be again + thrust back into the trouble he has just escaped from. I + therefore, trusting that you will not think me presumptuous, + beg of you to recommend to the Lords of the Treasury, as a + temporary measure, that Mr. Pilcher be recognised as holding + a position equal to that of a Junior Clerk, and that he may + have sole charge of the Weighing Room, with a salary of £200 + a year, which would be an addition of only £8 18_s._ a + year to his present pay. I assure you, most honestly, that + Mr. Pilcher is thoroughly competent to conduct the duties + of the Weighing Room, for he has conducted them without a + single fault for three years. + + “As regards myself, I feel that if you will give me your + consideration, you will determine that my works are worthy + a special application to the Lords of the Treasury; that my + position and salary may be commensurate with my services, + which have been rendered in profound confidence in your + sense of justice towards those who do their duty to you. + + “You are aware, sir, that of necessity, I have placed myself + in direct antagonism with those by whom you are surrounded, + and that I can therefore hope for reward at your hands only. + + “With unmeasured hope and confidence, + + “I am, Sir, + “Your most faithful servant, + “GEORGE F. ANSELL. + “TO THE MASTER OF THE MINT.” + +After the “receipt of that letter” the Master told me he would at +once establish me, but could not make a fresh appointment, because +the Treasury looked with such distaste on new appointments; but +he promised me “the first place:” “you shall be first—above them +all.” That he admitted my claims is proved by the fact that he told +a mutual friend—whom I had consulted, and by whose advice I wrote +that letter—that “Mr. Ansell’s claims were stronger than he had +represented;” but that this was his real opinion is clearly proved, not +only by his former letters to the Treasury, but by the written orders +and notes addressed to me, now in my possession, and by the letter +which he wrote to the Treasury on the 7th June, 1860. + + (EXTRACT.) LETTER FROM THE MASTER OF THE MINT TO THE + LORDS COMMISSIONERS OF HER MAJESTY’S TREASURY. + _Royal Mint, 7th June, 1860._ + “SIR, + + “In continuation of the account of the waste or loss of + bullion sustained in coining gold during the periods from + 1851 to 1858 which was submitted to the Lords Commissioners + of Her Majesty’s Treasury, in my letter of the 22nd May, + 1858, I beg now to add a return of the waste upon the gold + coinage of another year, 1858-9. + + “The waste in the Melting and Coining Departments will be + stated separately. + + WASTE IN THE MELTING DEPARTMENT—GOLD COINAGE. + + +--------------+-----------+----------------+-------+-----------+ + | | Weight of | |Amount | | + | Date. | Gold | Value of Gold | of | Value of| + | | Coinage. | Coinage. |Waste. | Waste. | + +--------------+-----------+----------------+-------+-----------+ + |April 1, 1858,| Ounces. | £ _s. d._|Ounces.| £ _s. d._| + | to March | 736150·582|2,866,386 6 6¾ |248·804|968 15 7¼ | + | 31, 1859. | | | | | + +--------------+-----------+----------------+-------+-----------+ + +--------------+-----------+------------+-----------+ + | | Value | Value of | Value of | + | Date. | of Sweep | Waste per | Sweep per | + | |recovered. | Million. | Million. | + +--------------+-----------+------------+-----------+ + |April 1, 1858,| £ _s. d._| £ _s.d._ | £ _s. d._| + | to March |231 2 1¼ | 337 19 7 | 80 12 6¼ | + | 31, 1859. | | | | + +--------------+-----------+------------+-----------+ + +“The net loss of the department will be obtained by deducting the value +of the sweep recovered from the value of the waste, reported above, and +is as follows:— + +“On a gold coinage of £2,866,386 6_s._ 6¾_d._ the net loss by account +in the Melting Department is £737 16_s._ 5¾_d._; this gives on a +million coined a net loss of £257 7_s._ 0¾_d._ Of the loss by account a +portion is apparent only, and depends upon the dissipation during the +melting of the oil and other impurities adhering to the gold scissel. +The adventitious matter described was acquired by the scissel in the +coining operations, and it has the effect of lowering the amount of +loss reported in the Coining Department (as will be seen immediately) +in the same proportion that it elevates the loss by account of the +Melting Department. But after making allowances for the circumstance +just stated, the loss of gold in melting remains higher in my opinion +than it ought to be, and it will, I trust, be found to admit of some +further reduction in future years. + + WASTE IN COINING DEPARTMENT—GOLD COINAGE. + + +--------------+-----------+----------------+-------+-----------+ + | | | |Amount | | + | Date. | Weight of | Value of | of | Value of | + | | Coinage. | Coinage. |Waste. | Waste. | + +--------------+-----------+----------------+-------+-----------+ + |April 1, 1858,| Ounces. | £ _s. d._|Ounces.| £ _s. d._ | + | to March | 736150·582|2,866,386 6 6¾ |16·603 |64 12 11¼ | + | 31, 1859. | | | | | + +--------------+-----------+----------------+-------+-----------+ + +--------------+-----------+-----------+------------+ + | | Value | Value of | Value of | + | Date. | of Sweep | Waste per | Sweep per | + | |recovered. | Million. | Million. | + +--------------+-----------+-----------+------------+ + |April 1, 1858,|£ _s. d._|£ _s. d._ | £ _s. d._ | + | to March |209 16 7 |22 11 0¾ | 73 4 0¾ | + | 31, 1859. | | | | + +--------------+-----------+-----------+------------+ + +“On a gold coinage of £2,866,386 6_s._ 6¾_d._ the account shows a waste +amounting to £64 12_s._ 11½_d._, with sweep recovered amounting to +£209 16_s._ 7_d._ The Coining Department therefore returns a surplus +by account of £145 3_s._ 7½_d._; that is, £209 16_s._ 7_d._ less £64 +12_s._ 11¼_d._ + +“A surplus by account instead of the usual loss was exhibited for the +first time in the return of the preceding year. A true surplus or +increase of metal is of course unattainable in any minting operation. +The increase of weight recorded arises from adventitious matter +acquired by the gold scissel in the Coining Department, to be again +lost in the melting, as was just explained. The surplus by account of +the Coining Department amounts to £50 13_s._ 0_d._ on £1,000,000 coined. + +“A correct estimate of the whole waste in coining is obtained by +combining the returns of the two departments:— + + £ _s. d._ + “Loss of Melting Department 257 7 0¾ per million. + Loss of Coining Department 50 13 0 ” + -------------- + Difference 206 14 0¾ ” + +“It thus appears that in 1858-9 the net loss in minting £1,000,000 gold +was £206 14_s._ 0¾_d._ + +“The annual loss since the reconstitution of the Mint in 1851 is as +follows. + +“Loss of bullion (waste, less sweep recovered) in minting £1,000,000 +gold— + + £ _s. d._ + In 1851-52 479 5 8 + ” 1852-53 921 10 7 + ” 1853-54 795 11 7¾ + ” 1854-55 661 2 4¼ + ” 1855-56 724 1 3 + ” 1856-57 691 14 1¾ + ” 1857-58 140 4 7[127] + ” 1858-59 206 14 0¾ + ” 1859-60 187 0 0 partly by estimate. + +[Footnote 127: Understated at £99 14_s._ 5½2_d._ in previous letter of +May 22, 1858, in consequence of the sweep recovered per million having +been taken at £136 13_s._ 9_d._ instead of £93 3_s._ 7_d._, the correct +amount.] + +“An additional year just completed, 1859-60, which appears in the +preceding statement, is given subject to a subsequent correction of a +few pounds more or less, as the sweep of that year (being still unsold) +is taken by estimate. + +“It appears by the table that the average loss on the gold coinage of +the first six years is £784 0_s._ 0¾_d._; and on the gold coinage of +the last three years, £172 8_s._ 11½_d._ per million coined; showing +an improvement of £611 11_s._ 1¼_d._ per million coined. On the twelve +millions of gold coined, during the last three years, the saving +exceeds twelve thousand pounds. + +“The diminished waste of the late years is further attended with +increased economy in working, of which, indeed, a low waste return +is one of the surest indications. The proportion of sovereign blanks +rejected in passing through the weighing machines, and which require +to be remelted, causing thereby additional waste of metal and loss of +labour, has been gradually diminished. This is shown by the following +returns respecting the work performed in similar circumstances at +various periods. + + PROPORTION IN 100 SOVEREIGN BLANKS CUT. + + “In 1855 21·49 per cent. + ” 1856 18·51 ” + ” 1859 13·78 ” Under present officers. + ” 1860 4·11 ” ” ” + +“The last small proportion of 4·11 per cent. of rejected blanks was +further reduced to 2·07 per cent. by submitting the heavy portion of +the blanks to the action of a new filing machine. I may be allowed to +recall to your recollection that a Parliamentary grant of £1,100 was +obtained by the Mint in 1856 for the purchase of two automaton filing +and adjusting machines, which it was proposed to have constructed by +Messrs. Napier and Sons, the eminent engineers. No part of this grant +has been appropriated. + +“The rapid amendment in the blanks which took place immediately +afterwards led me to suspend the order for those machines, and +ultimately to abandon the idea of any great expenditure for the object +contemplated. In the meantime also a machine of a much more simple +construction was contrived by Mr. Richard Pilcher, of the Weighing +Room, and was constructed in the Mint with no assistance from without. +Pilcher’s adjusting machine has proved sufficiently effective, costs +nothing for labour, and has now been in constant operation for two +years. The cost of making a pair of machines such as we now possess +is estimated at £60, a sum which was saved to the public by the mode +in which the work was executed. Trusting that the Lords Commissioners +of her Majesty’s Treasury will be disposed to consider favourably the +merit and practical value of such an invention, I venture to solicit +their Lordship’s sanction to the application of £60, the sum just +stated, to the benefit of the inventor, jointly with an ingenious +mechanic on the establishment who gave material assistance in the +construction of the machine. I would propose the following awards, if +agreeable to their Lordships:— + +“To Mr. R. Pilcher £40. + +“To Meredith Jones £20. + +“Their Lordships have afforded encouragement on previous occasions to +voluntary efforts made within the Department in improving the machinery. + +“On one additional point I would take the opportunity to offer +information, and also submit a proposition for their Lordships’ +consideration. A correspondence between the Governor of the Bank of +England and myself, on the property of the gold occasionally imported +into the Mint to be coined, was formerly brought under your notice +in my letter of the 21st of March, 1857. The evidence of the evil in +question was not confined to the Royal Mint, but has, I believe, been +felt at all other Mints, and also by goldsmiths generally, since the +recent gold discoveries. It was, however, traced to the presence +in the gold of a minute portion of antimony or arsenic (often not +greater in quantity than one-tenth of a per cent.), which escapes the +observation of the assayers. But no remedy in dealing with such gold +presented itself, except the expensive one of having the brittle gold +refined. + +“An unusually large proportion of the gold received for coinage +last year was of this defective character; but the whole of it was +successfully coined, notwithstanding, and no part returned to the Bank +to be refined, as on former occasions. + +“This improvement in the practice of the Mint is the result of a +laborious investigation made in the coining department, of which I am +happy to assign the chief merit to Mr. Ansell. It now appears that the +antimony or arsenic acts injuriously when the gold blanks are allowed +to cool gradually, but not when cooled suddenly after annealing; the +gold appearing to have time to crystallise and become granular under +the influence of the antimony particles in the one case, but not in the +other. The improvement may be justly represented as one of considerable +value. It saves entirely much extra labour hitherto applied to brittle +gold without any beneficial result. It will also lead to the diminution +of waste, of which indeed brittle gold was always a fruitful source. + +“The services of Mr. Ansell in effecting this improvement appear to me +well deserving of recognition; and I would strongly recommend the award +to that gentleman of a moderate grant of such amount as their Lordships +may be pleased to accord, on account of these services. Mr. Ansell is +a valuable officer, and no one has contributed more to the reduction +in other ways of the expenditure of the establishment. Both he and Mr. +——, another junior officer of the Coining Department, are also engaged +at salaries (...) which are certainly very moderate, considering the +responsible duties these gentlemen are called upon to perform. + + (Signed) “THO. GRAHAM. + “To GEORGE A. HAMILTON, ESQ., Treasury.” + +I quote thus much of this letter to prove to your Lordship that THE +MASTER ADOPTED MY RECOMMENDATIONS; indeed, he specifically stated to +me that the recommendations for Mr. Pilcher and myself were made with +a view to support a future application. I would also observe that the +actual money saving effected by the coining of the brittle gold here +alluded to was £1,562 7_s._ 11¾_d._, and I desire to be very clear in +stating that I copied this letter from Mr. Graham’s own writing. That a +copy of it was sent to the Treasury would seem to be certain, for the +following reply was received and handed to me by the Master:— + + FROM THE TREASURY TO THE MASTER OF THE MINT. + + “_Treasury Chambers, 22nd September, 1860._ + + “SIR, + + “I am directed by the Lords Commissioners of Her Majesty’s + Treasury to acquaint you that the general result of your + Report of the 7th June last on the loss of bullion in + coining gold in the year 1858-1859 is, in the opinion of + my Lords, very creditable to the Department under your + management. My Lords willingly accede to your recommendation + that £40 should be granted to Mr. R. Pilcher, and £20 to + Meredith Jones for their services in the invention and + construction of an adjusting machine under the circumstances + represented in your Report. My Lords will also be prepared + to grant a suitable payment to Mr. Ansell, in recognition + of his services in obviating the difficulty in coining gold + containing minute portions of antimony or arsenic, and they + request that you will report to them the amount that you + recommend to be granted to Mr. Ansell. + + (Signed) “GEORGE A. HAMILTON. + + “THE MASTER OF THE MINT. + “_Mint Number, 2988, 24th September, 1860._” + +In answer to this the Master wrote to the Treasury, recommending a +payment of £100 to Mr. Ansell, and the Treasury reply was as follows:— + + FROM THE TREASURY TO THE MASTER OF THE MINT. + + “_Treasury Chambers, 19th October, 1860._ + “SIR, + + “With reference to your letter of the 13th instant, I + am directed by the Lords Commissioners of Her Majesty’s + Treasury to acquaint you that my Lords are pleased to + authorise, in accordance with your recommendation, the grant + of £100 to Mr. Ansell in recognition of his services in + obviating the difficulty of coining gold containing a minute + portion of antimony or arsenic. + + (Signed) “GEORGE A. HAMILTON. + “THE MASTER OF THE MINT. + “_Mint Number, 3024, 20th October, 1860._” + +Under my advice, the Master addressed a letter to Mr. Pilcher, +conveying to that gentleman the £40, having previously written to me +the following letter:— + + THE MASTER OF THE MINT TO G. F. ANSELL, ESQ. + “_Royal Mint, 20th October, 1860._ + + “DEAR SIR, + + “Your success in obviating the difficulty of coining + gold containing a minute portion of antimony or arsenic + is a benefit to this department which calls for my most + grateful thanks. In recognition of your services, I have the + pleasure, with the approbation of the Lords Commissioners + of Her Majesty’s Treasury, to present to you the sum of one + hundred pounds, for which cheque is enclosed. + + “I have the honour to remain, + “Dear Sir, + “Most faithfully yours, + (Signed) “THO. GRAHAM. + + “GEORGE F. ANSELL, ESQ. + “_Mint Number, 3026, 1860._” + +I was not at the time aware that the Master wrote to the Treasury on +the 8th of June, 1860. That he did so, would seem to be proved by the +following letter in reply; but that he should write on the next day +after his letter of the 7th June, 1860, renders it possible that he +made some alteration after that letter left my hand. I have not, my +Lord, seen the letter written on the 8th June and alluded to in the +next. + + (EXTRACT.) LETTER FROM THE TREASURY TO THE MASTER OF THE MINT. + + “_Treasury Chambers, 25th September, 1861._ + “SIR, + + “I am commanded by the Lords Commissioners of Her Majesty’s + Treasury to inform you that, having in consideration the + very favourable opinion expressed in your Report of the + 8th June, 1860, as to the ability and vigilance displayed + by Messrs. —— and Ansell, and the saving which has been + effected in the processes at the Mint under your direction, + their Lordships are pleased to sanction the increase of £30 + a year to the salaries of those gentlemen, to take effect + from the commencement of the present quarter, as recommended + in your letter of the 6th instant. + + (Signed) “GEORGE A. HAMILTON. + + “THE MASTER OF THE MINT. + “_Mint Number, 454, 26th September, 1861._” + +On the introduction to the Mint of Mr. John Graham all was changed, +and it became clear that I was to be sacrificed. Mr. Barton, then +Deputy-Master, therefore advised me to bring the matter to an issue +by applying for the first vacant office. This I did, but my note was +not even acknowledged; the Master, however, obtained a “Minute” from +the Lords of the Treasury to the effect that _extra clerks were not +at liberty to apply for promotion_, and this was conveyed to me by a +messenger. To the office for which I had thus applied, Mr. John Graham +who was then an extra clerk, was subsequently appointed. Upon the +occurrence of the death of Mr. W. T. Brande, whose office had been +specifically promised to me, I spoke to the Master of the Mint; but +he assured me “The Treasury would fill up the vacancy, for they were +dissatisfied with the whole of the Mint appointments.” He, however, +appointed his brother, notwithstanding his acknowledged incompetence +and unfitness. It was on the occurrence of that event that Mr. Barton +strongly “advised me, on the event of the next vacancy to apply for it +over the Master’s head, if you can get an influential person to back +you.” + +Finding the ground thus removed from my feet, I sought counsel with my +friends, and determined to renew my studies in chemistry—having, in +consequence of the Master’s promises, relinquished that profession when +I entered the Mint. + +It now becomes necessary to show by what occurrences my name was +brought to your Lordship’s notice, and this I will do briefly. + +When I had completed my laboratory in Bernard Street, I called on Mr. +Robert Hunt, F. R. S., and asked him what subject would be likely to do +me most service. He at once kindly suggested “a means to find fire-damp +in coal mines—one that will act unerringly, and require no attention +from man.” I at once adopted the subject for study, and Mr. Hunt gave +me many kind letters of introduction that I might “see my enemy at +home,” especially a note to Mr. Oakes of Riddings House, Alfreton, +whose generosity and hospitality were very prominent. I told that +gentleman the object of my visit, and talked with him at considerable +length, for I found in him a man singularly desirous to help his +fellow-men. Mr. Oakes invited his brother to take me to a pit at a +distance of about four miles, where I should be almost sure to find +some fire-damp, and to this pit Mr. Oakes, junior, most kindly took me. +The coal pit was itself a very remarkable one, and contained singular +evidences in the history of the past. It will ever be associated with +the invention of my “Fire-damp Indicator,” for it was in this pit +that the idea for its formation occurred to me. If, therefore, this +instrument should fortunately be the means of saving life, that benefit +will have arisen from the kindness of Mr. Oakes. When I had made my +instruments, I took them to the Mint, and showed them to Mr. Graham. +Diffusion being fitly styled GRAHAM’S LAW, I took it for granted he +would be pleased to find that force applied practically. I said to him, +“I have proposed, Mr. Graham, to indicate the existence of fire-damp in +coal mines.” He replied, “Ah, yes; that subject comes up every seven +years.” I placed an instrument on his table, and asked if he would look +at it, saying, “I propose to use your law of diffusion.” Before I had +finished the word _diffusion_ he cut in upon me with an exclamation of +great force, “Good God! what would I have given for that thought!” I +said, “God gave it to me.” To which he said, “I was on the Coal Mines +Commission, and I did all I could to find a means of discovering the +presence of that dreadful gas.” He refused to examine my apparatus, on +the ground that he objected to the smell of gas, but said, “the honour +of being associated with you in it would be so great that I shall be +glad if you will allow me to pay all expenses, and you can make your +experiments in my laboratory; the apparatus shall be left there.” I, +however, declined his offer. + +I exhibited the apparatus, as was but natural, in the first instance +to Mr. Robert Hunt, at his residence, and afterwards to many other +scientific men. It was subsequently noticed in the _Times_, in very +high terms. A few days after that event, I received a note from Dr. +Angus Smith, F.R.S., asking if I could “exhibit my experiments to +Lord Kinnaird at 2 P.M. to-morrow.” I gladly accepted the proposed +appointment, and suggested whether “his Lordship could obligingly come +to me at 27, Bernard Street,” which he courteously did, accompanied +by Mr. P. H. Holland and Dr. Angus R. Smith. I then found that Lord +Kinnaird was Chairman, and Mr. Holland a Commissioner, of the Royal +Commission of Mines. Your Lordship, as you may remember, honoured me by +remaining in company with Mr. Holland and Dr. A. Smith for more than +two hours, examining minutely every detail. From that day you have +spared neither time nor labour to induce coal owners to adopt and use +my “Indicator,”—which your Lordship also brought under the notice of +Her Majesty, who deputed H.R.H. the Duke of Edinburgh to examine it on +her behalf. This His Royal Highness graciously did at my residence. +It has also been distinguished by mention in the Preface to the last +edition of Ure’s Dictionary, in which work it is fully described. In +practical operation it has proved to be entirely successful even in +the hands of working colliers, who have, on more than one occasion, +said to me, “When men’s lives are as valuable as those of horses, your +instruments will be used; but, you see, they buy horses, and men they +get for nothing.” + +I took occasion to speak with your Lordship about my troubled position +at the Mint, and asked permission to make known to you all the +circumstances. You having thus heard from me a statement of my views, +advised me to await the arrival of the proper time, and stated that +then you would assist me. I have already said that Mr. Barton advised +me to apply over Mr. Graham’s head for promotion when a vacancy should +occur, and I therefore waited that event. Unfortunately for me, Mr. +Barton was the first to be removed by death, he having died on the 25th +August, 1868. I had, therefore, no powerful friend left in the Mint. + +It was amidst such circumstances that I sought the assistance of your +Lordship; which commenced with the following correspondence:— + + FROM THE RIGHT HON. LORD KINNAIRD, K.T., + TO THE RIGHT HON. B. DISRAELI. + + “_Rossie Priory, Inchture, N.B._, + “_August 28th, 1868._ + “DEAR SIR, + + “May I ask you to read the enclosed—I cannot, of course, + ask you as from myself to attend to the application + therein—but having become acquainted with Mr. Ansell during + the time I was Chairman of the Mines Commission, I was so + struck with his intelligence and ingenuity, combined with + a great knowledge of chemistry, that I felt he was a very + valuable public servant. Mr. Ansell has invented a machine + for the discovery of fire-damp in mines, which, if generally + adopted, would be the means of preventing great loss of + life from explosions in coal mines, and I am convinced that + if you could find time you would be much interested in + witnessing his experiments. + + “Mr. Ansell has no friends in high quarters to bring his + claims under your notice; I venture therefore to do so, + however unwillingly, because I feel that he is deserving, + and especially well fitted for the appointment. With many + apologies for troubling you, + + “I remain, + “Yours faithfully, + (Signed) “KINNAIRD. + + “THE RIGHT HON. B. DISRAELI.” + + ENCLOSURE. + + “_Royal Mint, August 28th, 1868._ + “SIR, + +“I most respectfully request your attention to the following statement +of my claim for promotion consequent on the death of the Deputy +Master of the Mint, Mr. Barton. By a letter dated 29th October, +1856, addressed to the Treasury, I was recommended by Mr. Thomas +Graham, F.R.S., the Master of the Mint, as fit to be appointed to a +Supernumerary Clerkship in the Royal Mint. + +“On the 12th of November, 1856, I was appointed to that office at +a salary of £120 per annum, having previously passed the necessary +examination before the Civil Service Commissioners. The internal +management of the Mint then was, and had for some time previously, +been in great confusion; the workmen were disorderly and dishonest, +peculation was of daily occurrence, and it was universally believed +that the processes of coining could not be carried on without +considerable loss. Moreover, in consequence of the various modes by +which bullion was then weighed, it was almost impossible to detect +dishonesty. Nor was this all, for the blank coins were so imperfectly +executed that it was always necessary to reject and return to the +melting-pot from 15 to 35 per cent. + +“From 1851 to 1856 the average ‘loss by coining,’ as it was then +called, was + + In gold, £581·42 per million pounds sterling. + In silver, £271·00 per million ounces coined. + +“During the same years the average number of blank coins rejected was + + In gold, 17·92 per cent. + In silver, 25·00 ” + +“At this period, owing to the use of oil on the metal in the processes +of coining, an additional loss was incurred in the melting. The average +loss by melting during the same period being, + + In gold, £356·33 per million pounds sterling. + In silver, £210·75 per million ounces coined. + +“Soon after I entered the Mint I was taken into the confidence of the +Master. + +“I satisfied him that by proper management and vigilance no loss +ought to be incurred by the processes of coining; that if due care +were taken, scarcely any of the blank coins, when completed, would be +rejected, and that a further saving to the Government would be effected +by abolishing the use of oil in the processes of coining. + +“Mr. Graham entrusted to me the sole task of carrying out these +reformations, at the same time promising that if I were successful I +should be amply rewarded by promotion. + +“You, Sir, will be able to judge of my success by the following +results:— + +“Instead of any ‘loss by coining’ since 1856 to the present date, there +has been, on the average, a positive gain:— + + In gold, £20 per million pounds sterling coined; + While for silver, £55·75 per million ounces coined is the total average loss. + +“During the same time the average number of blank coins rejected has +been + + In gold, 2·07 per cent. + In silver, 1·00 ” + +“During the same period the average loss by melting has been reduced to, + + In gold, £271·90 per million pounds sterling. + In silver, £57·90 per million ounces coined. + +“In 1857, as you, Sir, will doubtless perfectly remember, there arose +a very great pressure on the Bank of England for coined gold; any +endeavour to supply this unusual demand necessitated great exertion +on the part of the Mint, and the Master of the Mint placed the matter +entirely in my hands. I produced, without a single instance of loss by +peculation, and with an average of only 6 per cent. rejected blank +coins, 1,100 journey weights of sovereigns per week, being more by 200 +journey weights than had ever before been obtained. I thus was the +humble means of saving the country from experiencing the disastrous +effects consequent on the Bank of England being unable to meet the +demand for gold—a state of things almost universally expected at the +time as the unavoidable result of the then monetary crisis. + +“In 1858, during the temporary absence on leave of the Master Melter, +the Master of the Mint, by a written order, directed me to conduct the +melting department. This I did with such success as to reduce the then +ordinary loss by melting by no less than 33 per cent. + +“By a letter to the Treasury, dated 17th August, 1858, Mr. Graham +recommended my salary to be increased to £220 per annum. This was done +soon afterwards. + +“In 1859 I endeavoured to coin a large quantity of brittle gold, which +had up to that time, not only in the Royal Mint, but also in the mints +of other countries, been invariably rejected, under the impression that +it was totally unfit for coining purposes in consequence of its extreme +brittleness. I coined and sent to the Bank of England upwards of a +quarter of a million pounds sterling of this brittle gold, the coins +having proved to be so tough that they could not be broken by ordinary +means. For this service I received from Mr. Graham a letter, dated 20th +October, 1860, conveying to me ‘his most grateful thanks,’ and from +the Lords of the Treasury a small gratuity of £100, awarded to me in +consequence of a letter to the Treasury from the Master of the Mint, +dated 13th October, 1860, recommending that such a donation should be +made. + +“By a subsequent letter, dated September 6th, 1861, Mr. Graham +recommended the Lords of the Treasury to raise my salary to £250 per +annum. His recommendation was at once acceded to on the part of the +Treasury. + +“In 1862, at the request of the Master of the Mint, I undertook the +destruction of the old copper money, and destroyed from 10 to 16 tons +per diem, at the comparatively small cost of 8_s._ 4_d._ per ton. +Before this work was put under my charge 2 tons per diem had never +been destroyed; and in the Paris Mint, where a similar process of +demonetising had been in operation, the cost had never been less than +£10 per ton. + +“On several occasions offers were made to me of situations (unconnected +with the Royal Mint) in which I should have earned a much greater +salary than that which I now receive, but I have always been induced to +refuse them by the express promises made to me from time to time by the +Master of the Mint, Mr. Graham, that he would ensure my being placed in +a safe position in the Mint. + +“In the month of November, 1863, the office of Assistant Coiner became +vacant. No one, so far as I am aware, had performed so many or so +important services as to give him such a claim to that appointment as +I possessed; but, much to my surprise, Mr. Graham ignored my claims, +and appointed to the vacant office his brother, Mr. John Graham, +a gentleman considerably junior to me in the service of the Mint. +Smarting under what I conceived the injustice I had experienced from +the Master of the Mint, I wrote perhaps too strongly, but for this +I have apologised, and he has accepted my apology, but I feel that +it is probable that the Master of the Mint will, consequently on the +estrangement between us, not recommend me for the appointment, and I +can only rely on my services (into which I hope you will kindly cause +inquiry to be made), as giving me a claim, and therefore venture to +address you by the advice of Lord Kinnaird. + +“The unwillingness which I have cause to fear on the part of the Master +of the Mint to recommend me will not, I am sure, arise from a belief of +my unfitness—as in 1864 he offered to secure to me the appointment of +Chief Coiner and Melter to the Hong Kong Mint, at a salary of £1,000 +a year—an appointment which, being the father of a family, I was +compelled to decline. + +“I have to apologise for thus venturing to address you, which I could +only think of doing under the belief that you will take into your +favourable consideration the application of one who has endeavoured +faithfully and zealously to fulfil his duty, and not without some +success, as I have endeavoured to point out. + + “I have the honour to be, Sir, + “Your most obedient servant, + (Signed) “GEORGE P. ANSELL. + + “THE RIGHT HONOURABLE B. DISRAELI, + “Hughendon Manor, Buckinghamshire.” + +This application, I would remind your Lordship, was made while Mr. +Disraeli was First Minister of the Crown, and was acknowledged as +follows:— + + “_10, Downing Street, Whitehall, August 31st, 1868._ + + “MY LORD, + + “I am directed by Mr. Disraeli to acknowledge the receipt of + your Lordship’s letter of the 28th inst., and to acquaint + you that he has made a note of its contents. + + “I have the honour to be, my Lord, + “Your obedient servant, + (Signed) “MONTAGU CORRY. + + “THE LORD KINNAIRD.” + +On the 3rd September, 1868, Mr. Montagu Corry called on the Master of +the Mint and remained with him some considerable time. + +On the 28th September I received by a messenger, without any further +intimation, the following note:— + + THE MASTER OF THE MINT TO G. F. ANSELL, ESQ. + “_Royal Mint, 28th September, 1868._ + + “DEAR SIR, + + “I regret to have to inform you that it is not in my power + to continue your present engagement as an extra officer in + the coining department while the Mint is only so partially + occupied as it has been for some time past. + + “Your assistance will not, therefore, be required beyond the + 31st December next. + + “I remain, faithfully yours, + (Signed) “THO. GRAHAM. + + “G. F. ANSELL, ESQ.” + +Which I immediately forwarded to your Lordship, asking advice, when you +were so good as to write as follows:— + + THE RT. HON. LORD KINNAIRD, K.T., TO THE RT. HON. B. DISRAELI. + “_Rossie Priory, Inchture, N.B., September 30th, 1868._ + + “DEAR SIR, + + “I venture to trouble you on behalf of Mr. Ansell, of the + Royal Mint, who I had advised to apply to you for the + appointment of Deputy Master of the Mint, as from his + long experience in the Department, and great ability as a + chemist, I felt he deserved promotion, and was in every + way fitted for the office. It seems however, that his + application has drawn down the ire of the Master of the + Mint, who, I suppose, wished to have some friend of his own, + consequently Mr. Ansell has received a very curt dismissal + (copy enclosed). + + “It is very hard on a public servant who has done his duty + for so many years to be thus summarily dismissed, and I + therefore venture again to trouble you on the subject, + feeling confident that your sense of justice will dispose + you to view the matter favourably. + + “Yours faithfully, + (Signed) “KINNAIRD. + + “THE RIGHT HON. B. DISRAELI, GROSVENOR GATE.” + +Your Lordship also wrote letters to the noblemen and gentlemen who had +supported my application. + +On the 2nd December, 1868, Mr. Disraeli, on the eve of his resignation, +appointed Mr. C. W. Fremantle—his private secretary—to the vacant +office of Deputy-Master of the Mint. + + THE RT. HON. LORD KINNAIRD, K.T., TO THE RT. HON. W. E. GLADSTONE. + “_Rossie Priory, Inchture, N.B., December 25th, 1868._ + + “DEAR MR. GLADSTONE, + + “I should not have troubled you at present, as you still + must have much to occupy your time and attention; but the + case I have to bring before you is _pressing_, as, if + anything is to be done in the matter, initiatory steps must + be taken before the 31st. + + “During the time I was engaged on the Mines Commission, I + became acquainted with Mr. G. F. Ansell, of the Mint, who + has invented a most ingenious instrument for detecting + fire-damp in mines, which, if generally adopted in working + coal pits, would, I am perfectly satisfied, be the means + of saving life to a very great extent. I have, therefore, + taken great interest in Mr. Ansell, and on the occasion of + the death of the Deputy Master of the Mint, I and other + friends of his applied to the late Government to appoint him + to the vacant office, and we believed that he would get the + appointment for which he is so well qualified. Some delay, + however, took place, which, we were led to believe, was + owing to the Master of the Mint, Mr. Graham, being opposed + to it, and he at the same time, on the plea that Mr. Ansell + was a supernumerary clerk, though _he had been twelve + years_ in the service, gave him notice to quit on the + 31st of this month, and the office of Deputy has been filled + up. + + “Now Mr. Ansell, who is a very able chemist, and has got + the very highest testimonials, gave up his profession under + a promise that he was to get a permanent appointment in + order to undertake a most difficult task—that of detecting + peculations which were taking place in the Mint. In this he + succeeded, and was highly complimented by the Master of the + Mint in letters to the Treasury which can be seen. + + “The fact is, he saved the country, as the tables will + show, upwards of £27,000, to say nothing of the advantage + of putting a stop to peculations, and introducing order and + economy in the working of the Mint. + + “Mr. Graham, though having borne, and still bearing, witness + to Mr. Ansell’s high qualifications to the office, has + conceived a strong dislike to Mr. Ansell, because, as I + understand, Mr. Ansell remonstrated with him, and has spoken + to the Master in strong terms, on the appointment of his + brother, Mr. John Graham, to an office in the Mint. + + “In consequence of this ill-will, and of Mr. Ansell having + applied to the late Government for the appointment of Deputy + Master, Mr. Ansell has been dismissed, _after twelve + years’_ service, on the _plea_ that there is no work + for him. Although a fresh coinage is about to take place + immediately, and I think there is every probability of these + peculations being again carried on if inefficient men are + appointed, and there is no one to check them as Mr. Ansell + did, I think I am justified, for the sake of the public + service, independent of the hardship of the case, in asking + you to _cause an inquiry_ to be made into the reason + of a public servant being dismissed after twelve years of + service, and, in the mean time, to order the dismissal to be + suspended till the inquiry is made. + + “If you would get one of the Junior Lords of the Treasury to + hear Mr. Ansell’s statement, he will, I am sure, be able to + satisfy himself as to the truth of what I have stated, and + be able to enlighten you as to what has taken place in the + office of the Mint. With many apologies for troubling you, + + “I remain, yours faithfully, + (Signed) “KINNAIRD. + + “THE RT. HON. W. E. GLADSTONE, &c., &c.” + +On the 30th December your Lordship wrote me a letter, in which you +said:— + +“Mr. Gladstone writes me, ‘I have at once transmitted your letter to +the Chancellor of the Exchequer, to whose cognisance it belongs.’ I +have written to Mr. Lowe.” + +Your Lordship again wrote on the 5th January, 1869, enclosing a letter + + FROM THE RT. HON. ROBERT LOWE TO THE RT. HON. LORD KINNAIRD, K.T. + “_11, Downing St., Whitehall, 4th January, 1869._ + + “MY DEAR LORD, + + “Mr. Ansell, in whom you have interested yourself, is, I + have ascertained, a temporary clerk in the Mint, and the + duration of his employment must accordingly depend on the + necessities of the Department, of which the Master of the + Mint is the only judge. The Treasury could not, therefore, + interfere with Mr. Graham’s discretion in such a case. + + “I have, however, felt it my duty to make a particular + inquiry as to the nature of the expectations held out to + Mr. Ansell when his engagement commenced, and which you + have been informed amounted to a promise that he was to get + a permanent employment; but I am informed by the Master of + the Mint—the only person who could, I imagine, have made + such a promise—in the most positive terms, that he never + gave Mr. Ansell, either before or after he went to the Mint, + any encouragement to look for a permanent engagement. Under + these circumstances, whatever the merits of Mr. Ansell may + be, I am afraid I cannot undertake so serious a proceeding + as to interfere with the course which the Master of the Mint + may consider it proper to pursue in this matter. + + “Believe me, + “Yours truly, + (Signed) “ROBERT LOWE. + + “LORD KINNAIRD.” + +On the 6th January, 1869, I, by the advice of your Lordship, took the +opinion of eminent counsel, before whom I laid proofs of my statements. +Counsel advised me to draw up a Memorial, and ask your Lordship to +present it to the Treasury. This I did, with the assistance of a +well-known solicitor, who used infinite pains. The Memorial was as +follows:— + + “TO THE RIGHT HONOURABLE THE LORDS COMMISSIONERS OF + HER MAJESTY’S TREASURY. + + “THE Humble Memorial of GEORGE FREDERICK ANSELL, + of No. 27, Bernard Street, Russell Square, Analytical Chemist. + + “Sheweth as follows:— + + “In the month of October, 1856, the Master of the Mint + called upon your Memorialist, and offered to nominate him + to a position in Her Majesty’s Mint, and promised that he + should be promoted if he succeeded in effecting the object + the Master of the Mint had in view, which was to reform + certain abuses which prevailed extensively in the coining + department, in which there was then, and had been for some + time previously, great waste, owing to the carelessness + and peculations of those employed in conducting some of + the processes in that department. There were also great + irregularities and disobedience of orders and disregard + of regulations. All those circumstances combined, caused + considerable loss in the operation of coining, and the + Master of the Mint informed your Memorialist that he + understood it to be the intention of the Government to put + the coinage out to contract, unless it could be conducted + with greater economy in the Mint. Upon the understanding and + in the belief that he was to be promoted when any vacancy + in a higher office should occur, your Memorialist accepted + the offer made to him, and relinquished the professional + pursuits he was engaged in prosecuting, and agreed to devote + the whole of his time and energies to the service required + of him. Consequently upon this, the Master of the Mint, in + a communication dated the 29th of October, 1856, submitted + a proposition for the consideration of your Lordships’ + predecessors in the following terms:— + + “‘Under this designation I desire to introduce a young man + recommended by scientific or technical information available + in coining, by energy of character, and by tried ability in + the supervision of workmen—a faculty by no means common.... + I have been led to propose the name of Mr. George Frederick + Ansell as temporary clerk. Mr. Ansell was educated under + Dr. Hofmann, and acted for some years as his laboratory + assistant. He has since been scientific director in the + Royal Panopticon, in Leicester Square, which was lately + broken up. He appears to be a person of superior education + and ability, and great activity and vigour of character, + and, as I have been assured, has shown much discretion in + the management of both pupils and workmen. Mr. Ansell, if + appointed, would be placed in the rolling room, and have + charge of putting the bars into work.’ + + “On the 4th of November, 1856, your Lordships’ predecessors + approved of the recommendation of the Master of the Mint, + and on the 12th of November, 1856, your Memorialist entered + upon his service. Before taking active duty, he inquired + of the Master what latitude was allowed in case of any + difference of weight between the bullion given to the men + and the return. The Master replied that he did not know, but + that there had always been considerable loss in the room + your Memorialist was to enter. Your Memorialist assured the + Master that there ought to be no loss, and stated that if he + were supported he would demonstrate it. The Master of the + Mint promised to give your Memorialist full authority, and + also assured him that he might depend upon promotion if he + were able to carry out what he had stated. + + “In a very short time after your Memorialist had entered + upon his duties the losses were stopped, the men became + obedient to orders, and all irregularities ceased; but it + was not without exciting considerable ill-will amongst some + of the men and officers employed that your Memorialist + succeeded in accomplishing the ends in view. + + “Previously to your Memorialist entering upon his duties, + peculation had been of almost daily occurrence. In + consequence of the various modes by which the bullion was + then weighed, it was almost impossible to detect dishonesty. + In addition to this, the blank coins were so imperfectly + made, that it had always been necessary to reject and return + to the melting-pot quantities ranging from 15 to 35 per cent. + + “During the six years, 1851 to 1856, the average loss by + coining, as it was termed, was as follows:— + + In gold, £581·420 per million pounds sterling. + In silver, £271·000 per million ounces coined. + + In addition to this, a loss was incurred in the melting, + owing to the use of oil in the processes of rolling and + cutting out, and the average of this loss during the same + period was:— + + In gold, £356·330 per million pounds sterling. + In silver, £210·750 per million ounces coined. + + “During the same period, the average number of blank coins + rejected was:— + + In gold, 17·92 per cent. + In silver, 25·00 ” + + “The Master of the Mint entrusted solely to your Memorialist + the task of carrying out such reforms, and taking such steps + as your Memorialist considered necessary to put a stop to + the peculations and waste above mentioned. + “The result of such superintendence by your Memorialist + has been that, during the years from 1857 to 1866, instead + of any loss by coining, there has been, on the average, a + positive gain, inasmuch as the gain on gold amounted to + £20 per million sterling, whilst the loss in silver was + reduced from £271 per million ounces, to £55 per million + ounces. During the same period, the average number of blanks + rejected has been, in gold, only 2·07 per cent., and in + silver, only 1·00 per cent. The average loss by melting was + also reduced to the following:— + + In gold, £271·900 per million pounds sterling. + In silver, £57·900 per million ounces coined. + + “The following tabular statement, compiled from the + official books of the Royal Mint, shews the average loss by + peculation during the six years 1851-1857, and the saving + effected under your Memorialist’s management during the + years 1857-1866:— + + +-----------------------------------------------------------------+ + | Coining Department. | + +-------+----------+------------+-----------------+---------------+ + | | | Absolute | Averages per |Absolute saving| + | Date. | Money | loss by | £1,000,000 | effected by | + | | coined. |peculations.| coined. | stopping | + | | | | | peculation. | + +-------+----------+------------+--------+--------+---------------+ + | | | | Loss. | Gain. | | + | | | +--------+--------+ | + | | £ | £ | £ | £ | £ | + |1851-57|40,345,185| 20,030 | 491 | — | — | + |1857-66|50,894,385| Nil. | Nil. | 26 | 27,736 | + +-------+----------+------------+--------+--------+---------------+ + +------------------------------------------+ + | Melting Department. | + +-------+--------------+-------------------+ + | | Average loss | Absolute average | + | Date. | by melting | saving effected | + | |per £1,000,000| by the disuse of | + | | coined. |oil on the scissel.| + +-------+--------------+-------------------+ + | | | | + | | | | + | | £ | £ | + |1851-57| 261 | — | + |1857-66| 233 | 28 | + +-------+--------------+-------------------+ + +“The result from the above table is that in the period 1851-1857 +£40,345,185 in gold was coined at a loss to the Government by +peculations and waste in coining of upwards of £20,000, whilst by the +gains and savings effected by your Memorialist, amounting to £545 in +each £1,000,000 coined, the gain to the Government during the years +1857-1866 amounted to £27,736, and this in the gold alone, and quite +independently of the saving effected in the coining of silver. + +“In the year 1857, shortly after the appointment of your Memorialist, +there was a great demand and pressure on the Bank of England for gold +coin, and the endeavour to supply this unusual demand necessitated +great exertion on the part of the Mint. The Master of the Mint placed +the matter entirely under the direction of your Memorialist, who was +the means of producing, without a single instance of loss by peculation +and with an average of only 6 per cent. of rejected blanks, 1,100 +journey weights of sovereigns per week, being more by 200 journey +weights than had ever before been obtained. This extra production +undoubtedly contributed largely to meet the demand for gold and relieve +the pressure on the Bank during the monetary crisis of that year. + +“In the year 1858, during the temporary absence on leave of the Master +Melter, the Master of the Mint directed your Memorialist to conduct +the melting department, and during such superintendence of it your +Memorialist reduced the then ordinary loss in melting by no less than +33 per cent. + +“In the month of August of that year the Master of the Mint recommended +your Memorialist’s salary to be increased from £120 per annum to £220. + +“In the year 1859 a large quantity of brittle gold had been brought to +the Mint, and up to that time that kind of gold had been invariably +rejected by the Royal Mint, as well as by the Mints of other countries, +under the impression that it was totally unfit for coining in +consequence of its extreme brittleness. Your Memorialist endeavoured +to turn this gold to account, and succeeded in coining it; and upwards +of a quarter of a million sterling of this coined gold was sent to the +Bank of England, and the coins proved to be so tough that they could +not be broken by the ordinary means. For this service your Memorialist +received from the Master of the Mint a letter expressing his ‘most +grateful thanks,’ and upon his recommendation, in the month of October, +1860, a gratuity of £100 was awarded to your Memorialist by your +Lordships’ predecessors, and in the year 1861 your Memorialist’s +salary was raised from £220 to £250 per annum. Your Memorialist also +originated and developed the plans by which the new bronze money was +coined previous to its issue in 1860. Those plans are still followed, +and in consequence of your Memorialist’s investigations of the +subject, Messrs. Heaton and Messrs. Grenfell were referred to him for +information and assistance by the Master of the Mint. + +“In the year 1862 your Memorialist, at the request of the Master of +the Mint, undertook the destruction of all the old copper coinage, +and destroyed from 10 to 16 tons per diem, at the comparatively small +cost of 8_s._ 4_d._ per ton. Before this work was put under your +Memorialist’s charge, scarcely so much as 2 tons per diem had ever been +destroyed; and in the Paris Mint, where a similar process had been in +operation, the cost had never been less than £10 per ton. + +“Down to this period, offers had been made to your Memorialist on +several occasions of situations unconnected with the Royal Mint, +at a much higher salary than he was in receipt of there, but your +Memorialist was induced to decline them in consequence of the +assurances of the Master of the Mint that his position there should +be greatly improved. In the month of November, 1863, the office of +Assistant Coiner became vacant. No one, so far as your Memorialist +is aware, had performed so many or such important services in the +establishment as he had done; but his claims were ignored, and the +Master of the Mint, passing over him, appointed his own brother, Mr. +John Graham (who was considerably junior in the service), to the vacant +post. + +“Upon the death of the late Mr. Barton, Deputy-Master of the Mint, your +Memorialist applied to the Right Honourable the then First Lord for +promotion, but he appointed Mr. Fremantle, his private secretary, to +Mr. Barton’s office, and no other change or promotion was made. + +“On the 28th of September, 1868, your Memorialist received his +dismissal from the service, in the following letter from the Master of +the Mint— + + ‘_Royal Mint, 28th September, 1868._ + ‘DEAR SIR, + + ‘I regret to have to inform you that it is not in my power + to continue your present engagement as an extra officer in + the coining department while the Mint is only so partially + occupied as it has been for some time past. Your assistance + will not therefore be required beyond the 31st of December + next. + ‘I remain, + ‘Faithfully yours, + ‘THO. GRAHAM. + + ‘G. F. ANSELL, ESQ.’ + +“Notwithstanding the intimation conveyed by the above letter that +your Memorialist’s services were no longer required in consequence of +the coining department being only partially occupied, it is the fact +that another gentleman, who was an extra clerk in the bronze store +department, and considerably your Memorialist’s junior (but who is +private secretary to Mr. John Graham, the brother of the Master), has +been appointed to the same post as your Memorialist held; and it is +also the fact that the Mint is now executing a new coinage of about +£5,000,000 of gold, and your Memorialist believes that it will be +found, on investigation, that losses have again occurred, upon this +and the last preceding coinage, which was not superintended by your +Memorialist. + +“Upon a reference to the communications to the Treasury from the Master +of the Mint, under the dates of + + 29th October, 1856, + 6th August, 1857, + 17th August, 1858, + 7th and 8th July, 1860, + +it will be seen that your Memorialist’s services have been referred +to by the Master of the Mint in terms of high approbation, and your +Memorialist can confidently assert that his dismissal has not been +owing to any want of efficiency or attention to the public service on +his part; and, on the other hand, others who have less effectually +served the public interest, and have been junior to your Memorialist in +the service, have been promoted over his head. The Master of the Mint +at one time offered to recommend your Memorialist to an appointment in +the Mint at Hong Kong; but the climate would have been unsuitable to +your Memorialist and his family, and he was compelled to decline it. + +“Your Memorialist has spent twelve of the best years of his life in the +public service at an insignificant salary, and has effected savings to +the public to the amount of £35,000 and upwards in the gold coinage +alone, besides many other savings in other branches of his department, +and has now been dismissed without, as he humbly submits, any adequate +reason at three months’ notice (which your Memorialist is advised +is insufficient according to the usual course of law) and without +compensation of any kind. + + “Your Memorialist therefore humbly prays your Lordships to + cause inquiry to be made into the circumstances stated by + your Memorialist, and his special services in connection + with the Royal Mint, and that your Lordships will be + pleased to continue his services in some other department + in which they may be made available, or to award some + compensation to him in consideration of the considerable + sums he has been the means of saving to the public during + the course of his employment at the Royal Mint, and of his + abrupt dismissal by the Master without any just cause. + + “GEORGE F. ANSELL. + + “_10th February, 1869._” + +On the 19th February, your Lordship enclosed to me the following +letter:— + + FROM C. RIVERS WILSON, ESQ., TO THE HON. A. KINNAIRD, M.P. + “_11, Downing Street, Whitehall, 15th February, 1869._ + + “DEAR SIR, + + “The Chancellor of the Exchequer has received the Memorial + from Mr. Ansell, forwarded in your letter of Saturday, + and has caused it at once to be laid before the Board of + Treasury, in compliance with the wish expressed by Lord + Kinnaird. + “I am, dear Sir, + “Yours faithfully, + (Signed) “C. RIVERS WILSON. + + “HON. ARTHUR KINNAIRD, M.P.” + +On the 22nd February, 1869, Mr. John Graham died, thus leaving the +office of Chief Coiner vacant. I immediately informed your Lordship +of this unexpected event, and you, on the 23rd, wrote to the Hon. A. +Kinnaird, asking that gentleman to go immediately and see Mr. Lowe, +and to take him a copy of my book of testimonials; and on the 24th +your Lordship wrote to the Hon. A. Kinnaird, asking him to see Mr. +Gladstone, in whose gift the office of Chief Coiner is. On the 27th +February, 1869, a friend suggested that I should “ask Lord Kinnaird to +mediate between Mr. Graham and myself.” Your Lordship permitted me to +make that suggestion, and wrote as follows:— + + THE RT. HON. LORD KINNAIRD, K.T., + TO THOMAS GRAHAM, ESQ., F.R.S., D.C.L. + “_Rossie Priory, Inchture, N.B., March 1st, 1869._ + + “SIR, + + “I do not know whether you are aware that Mr. G. F. Ansell, + by my advice, has presented a Memorial to the Lords of the + Treasury, praying for compensation for his dismissal from + the Mint. + + “I considered the case so hard that a gentleman who had + served the country for about twelve years, ably and + efficiently, as shown by letters from the Treasury and from + yourself, should be dismissed on three months’ notice, + that I resolved to bring this case before Parliament, but + before doing so I thought it best that Mr. Ansell should + memorialise the Treasury, stating his case and past services. + + “Since the Memorial was sent in, I have heard of the loss + you have sustained, and consequently have applied for the + appointment for Mr. Ansell to the office lately filled by + your brother. + + “I think it right you should know this, and I am not + without hopes that my recommendation may meet with your + concurrence, as though I am aware that you had at one + time some difference with Mr. Ansell, yet he has at the + same time told me of many kindnesses he has received from + you—shown also on a late occasion, when you gave him a + very good testimonial on his being a candidate for a Gas + Inspectorship, which proves the high opinion you have of Mr. + Ansell’s qualifications. + + “He has assured me that, should he get the appointment, he + will act most cordially with you, and be most anxious to + forget all that is past. + + “I am prepared, on hearing from you that you concur in Mr. + Ansell’s appointment, to write to Mr. R. Lowe to tell him + that I wish the Memorial withdrawn. + + “Your obedient servant, + (Signed) “KINNAIRD. + + “T. GRAHAM, ESQ., F.R.S., D.C.L., + “Master of the Royal Mint, London.” + +Envelope marked “Private,” + + FROM T. GRAHAM, ESQ., F.R.S., D.C.L., TO + THE RT. HON. LORD KINNAIRD, K.T. + “_4, Gordon Square, 3rd March, 1869._ + + “MY LORD, + + “On returning from Scotland I find your letter of the 1st + instant, the receipt of which I beg to acknowledge. + + “I beg to remain, my Lord, + “Your Lordship’s most obedient servant, + (Signed) “THO. GRAHAM. + + “THE RIGHT HON. LORD KINNAIRD.” + +On the 6th March, 1869, your Lordship wrote me to the effect that Mr. +Lowe had stated that he “still entertained a belief that Mr. Ansell was +never on the staff of the Mint, and he cannot force a supernumerary on +Mr. Graham, but he HAS SENT THE MEMORIAL TO MR. GRAHAM TO ANSWER.” I +feel that the Right Hon. Robert Lowe thus committed a singular act of +injustice to me. Those who will read the Memorial cannot but be struck +with the fact that my sole complaint is against Mr. Thomas Graham, +yet Mr. Lowe remits the case to the accused for _his_ decision. Such +an act is a remarkable comment on the promise of the Government _that +those who would faithfully do their duty, irrespective of their nominal +position, should be rewarded_. + +This injustice induced your Lordship to take further steps, and you +sent me the following letter:— + + FROM THE RIGHT HON. W. E. GLADSTONE TO + HON. A. KINNAIRD, M.P. + “_March 5th, 1869._ + + “MY DEAR KINNAIRD, + + “I am not sure whether the arrangements to be made at the + Mint will place any vacancy at my disposal, but if they + do I will carefully consider the subject of your letter + respecting Mr. Ansell. + + “Ever yours sincerely, + (Signed) “W. E. GLADSTONE. + + “THE HON. A. KINNAIRD.” + +On the receipt of this letter your Lordship directed me to send a copy +of my “Treatise on Coining” to Mr. A. West for Mr. Gladstone. Up to +this date the case had been urged upon Mr. Gladstone, not only by your +Lordship, but in addition by five Cabinet Ministers and five members of +the House of Commons; yet there was, as in the case of Mr. Disraeli, +some mysterious cause why I was defeated, and on the 27th of March, +1869, I received the following:— + + FROM THE LORDS OF THE TREASURY TO G. F. ANSELL, ESQ. + (_No. 3727, 24th March_). + “_Treasury Chambers, 27th March, 1869._ + “SIR, + + “In reply to your Memorial of the 10th of February last, + I am directed by the Lords Commissioners of her Majesty’s + Treasury to acquaint you that my Lords have made inquiry + into the circumstances which led to the cessation of your + employment as a temporary clerk at the Royal Mint, and they + do not find that they are such as in their opinion would + justify them in awarding you any compensation in consequence + thereof. + + “I am further desired to state that your removal from the + service was entirely within the discretion of the Master of + the Mint, who distinctly denies ever having held out to you + any expectation of promotion or of permanent employment; and + that your statements as to the value of your services at the + Mint are not corroborated by Mr. Graham. + + “In conclusion, I am desired to add, with regard to your + application that your services may be continued in some + other department, that my Lords have no appointment at their + disposal to which they can nominate you. + + “I am, Sir, + “Your obedient servant, + (Signed) “WILLIAM LAW,” + “GEORGE F. ANSELL, ESQ., + “27, Bernard Street, Russell Square, W.C.” “Exᵃᵈ. + +Whereupon your Lordship took steps, which I will explain presently; +but I beg first to append a few extracts from my diary, written day +by day at a time when, had my confidence in Mr. Graham been shaken, I +could have induced him to make a written agreement. I instead placed +in him so profound a confidence that I placed my future, _as he knew_, +entirely in his keeping. + +“_9th March, 1858._ + +“I expressed an opinion that in the event of the Master being ill, or +seeing fit to resign, I should be summarily dismissed the Mint, and +that the —— and —— would come into power. I also related the grounds +for my opinion, and the Master said that ‘the Treasury were too much +awake to all affairs to admit of my dismissal or removal, or of such +a change at any time under any circumstances; and that, beside, Mr. +Sterry was now just preparing his last Report of the waste per quarter, +and which would effectually close —— and ——’s chance.’” + +“_9th July, 1858._ + +“I showed the Master, and he read Mr. Halder Wood’s letter. I sought +his advice, and he advised me to remain at the Mint, promising that, +so soon as Mr. Brande or Mr. Buckle died, I should be placed in their +position, for the Treasury would not make a place for me. I wrote this +to Mr. Wood, who soon replied, offering me a place which was next to +himself, and advising me ‘not to trust Graham’s promises.’” + +“_September 2nd, 1857._ + +“A note from Mr. F. Versmann, declining a position which I had placed +at his disposal under these circumstances. Mr. Corcoran offered to +introduce me to Mr. Payne, who subsequently offered to engage me on the +following terms: I was to attend three days a week at Farnham, where +I was to have a residence and £250 a year. The other three days I was +at perfect liberty to use and to spend in London, in no way tied to +Mr. Payne. I consulted Mr. Graham. He promised most faithfully that I +should be ‘above all,’ and advised me to decline Mr. Payne’s offer. I +did decline it, and to prove to Mr. Graham that the offer was _bona +fide_, I handed to him Mr. Payne’s letter, with a request that he would +recommend a fit person, and I would introduce him. Mr. Graham gave +the letter to Mr. Versmann, who in his note says he declines because +‘I am sorry indeed that Mr. Payne finds it necessary for the chemist +to reside on the spot; but, after all, I am sure I am right in not +giving up my chances in London.’ Mr. Corcoran has at this day a perfect +recollection of the whole matter, and writes me ‘I believe you would +have accepted, but you had a prospect of a certain position in the +Royal Mint.’” + +“_October 5th, 1859._ + +“In a conversation about my position, which had arisen from the +opposition offered to me, the Master said, ‘Yes, that is the +difficulty, you see the Treasury will not give you a position while we +have so much old lumber in the way of officers who do nothing.... And +in truth I will tell you I had hoped that the Act of last session would +have rendered retirement at sixty-five compulsory, and then I would +have placed you in a far higher position in the coining department; but +that clause was unwisely withdrawn, and here I am, still encumbered +by people utterly useless.’ I said, ‘Is it probable that I shall have +to wait for my promotion till the death or retirement of one of my +so-called ‘superior officers,’ or shall I now stand a chance of a more +immediate position of safety?’ He replied with great earnestness, ‘It +is a year since anything was done for you, so I will do something for +you before the end of early winter, and you stand a far better chance +now that Sir Charles Trevelyan is gone from the Treasury, for he always +stood in your way, because his own nominations had turned out so very +disastrously to this place; but I will promise you I will set you +firmly directly the men return to London—directly the Ministers are in +town.’” + +_22nd April, 1869._ + +Being determined to find the reason why I failed to be appointed, you, +as stated in your Lordship’s letter, called on Mr. Graham, at the Mint. +Mr. Graham spoke of his desire to serve Mr. Ansell, and offered “to +appoint him to the position from which Mr. C. W. Goodwin was to be +retired with an increased salary.” + +I had in writing begged your Lordship to allow me to decline this +offer, because I saw through the malevolent malice which induced it, +and enclosed a statement with extracts from my diary. + +Four days later, it appears that your Lordship called again on Mr. +Thomas Graham, in the Mint, where he was in consultation with Dr. Lyon +Playfair, M.P., and Mr. C. W. Fremantle, when you, as stated in your +letter, read and heard read Mr. Graham’s letter to the Treasury, and +your Lordship wrote to Mr. Lowe in relation to this interview with Mr. +Graham, and sent me Mr. Lowe’s reply. + + “_Downing Street, Whitehall, April 29th, 1869._ + + “DEAR LORD KINNAIRD, + + “Had Mr. Graham consulted me, I should have advised him not + to produce any documents to you and Dr. Lyon Playfair, for + the simple reason that I have already decided the case, and + that it ought not to be opened without my consent. That + consent I feel myself bound to withhold. I cannot permit + any one in this office to act as a Court of Appeal on what + I have decided. I have already given to your Lordship such + explanations as the case seemed to require, and I have + nothing to add to it. + + “I am, my lord, + “Faithfully yours, + (Signed) “ROBERT LOWE. + + “THE RIGHT HON. LORD KINNAIRD.” + + THE RIGHT HON. LORD KINNAIRD, K.T., TO + THE RIGHT HON. ROBERT LOWE. + + “_Rossie Priory, Inchture, N.B., May 4th, 1869._ + + “DEAR MR. LOWE, + + “The only explanation in re Ansell which I received from + you, was that Mr. Ansell’s Memorial, which complained of Mr. + Graham’s conduct, had been remitted to that gentleman for an + answer, and that, after receiving it, you considered further + inquiry was unnecessary. + + “I then asked to see the answer, and was refused, though, at + the same time you _assured me_ that it did not reflect + in the least on Mr. Ansell’s character. When I did see Mr. + Graham’s answer, I was struck with the animus which pervaded + its tone, and can hardly understand how such a difference + ‘between us’ can exist as to what _does_ and _does + not_ reflect on a man’s character. That the impression + conveyed to my mind by the document is the natural one, + is corroborated by the declaration of Dr. Lyon Playfair + on reading it; for he declared, ‘most strongly, that if + published, it would prevent Mr. Ansell obtaining, not only + any official, but any other employment.’ And certainly, + if the statements therein be true, such a result would be + deserved; however, the document bears on the face of it + so manifest a perversion of facts, and exhibits such a + malevolent feeling towards Mr. Ansell on the part of Mr. + Graham, on _whose word alone_ you have ‘decided the + case,’ that I am satisfied that the publication of this + document would rather tell in Mr. Ansell’s favour than + otherwise. I pointed out to you that the appointment by Mr. + Graham of his brother, whose unfortunate habits were well + known, to a position of great responsibility in the Mint, + and the peculations and losses which, by Mr. Graham’s own + admission, had taken place, demanded a special inquiry into + the management, and however much I might wish to screen a + man of Mr. Graham’s scientific acquirements, I do not feel + inclined to follow your advice and ‘ask Mr. Gladstone to + give Mr. Ansell another appointment,’ instead of exposing + the mismanagement of the Mint, and I cannot understand how, + if you believe Mr. Graham’s answer to be reliable, you could + recommend me to take such a course. + + “Yours faithfully, + (Signed) “KINNAIRD. + + “THE RIGHT HON. ROBERT LOWE, Downing Street.” + + THE RIGHT HON. LORD KINNAIRD, K.T., TO + THE RIGHT HON. W. E. GLADSTONE. + “_Rossie Priory, Inchture, N.B., May 4th, 1869._ + + “DEAR MR. GLADSTONE, + + “Since I saw you on the subject of Mr. Ansell’s appointment + to the vacant office at the Mint, I have seen Mr. Graham’s + answer to Mr. Ansell’s Memorial, and I earnestly hope that + you will not think of filling up the vacant office without a + full inquiry into the management of that Department, which + I consider is imperatively called for, and I do not think + that in making that appointment you would be justified in + being guided by the advice of the Master of the Mint, who + formerly appointed to that office his brother, whose drunken + habits were so notorious as to render him quite unfit to be + continued in such a charge. + + “I see no reason to doubt Mr. Ansell’s statements that great + peculations did take place at the Mint, as well as waste + in coining. This is admitted by the Master himself, and + clearly brought out in the Memorial of Mr. Ansell, who was + employed for twelve years as supernumerary, and received + an acknowledgment more than once from the Treasury in + consequence of the saving he had effected. Mr. Graham, it is + true, denies the facts, and endeavours to blast Mr. Ansell’s + character, and thus to throw discredit on the evidence Mr. + Ansell could give. + + “Mr. Graham further states in his answer that Mr. Ansell + was dismissed on the complaint of his brother, while the + letter of dismissal following immediately on Mr. Ansell’s + application to Mr. Disraeli to be put on the permanent staff + bears, that it was in consequence of the ‘coining department + being so partially occupied,’ though at the same time a new + coinage had been ordered. + + “Mr. Graham’s answer bears on the face of it such a + perversion of facts that it appears to me an inquiry is + absolutely necessary, and I hope you will not oppose a + Motion for a Committee of Inquiry into the management of the + Mint, unless some other mode of inquiry is adopted. + + “Believe me, + “Yours faithfully, + (Signed) “KINNAIRD. + + “THE RIGHT HON. W. E. GLADSTONE.” + +Your Lordship will perhaps allow me to bring to your remembrance that +Mr. Thomas Graham died on the 16th of September, 1869, many months +after you had made great exertions in my favour. This is the more +necessary because some have thought that Mr. Graham was not aware of +my charges against him, whereas he had a full knowledge of all that +was passing, and his removal made it more difficult for me to prove +my statements or to obtain justice. It had been, I believe, your +Lordship’s intention to allow “my case,” as it has been called, to +go into abeyance till, on the occasion of your motion in the House +of Lords for a Committee to inquire into the management of the Mint, +others gratuitously attacked me, instead of replying to your Lordship +exact statements made on the 18th July, 1870, when you once more +brought the subject of the Mint before the House of Lords. As that +debate became of personal interest to myself, I beg to quote your +Lordship’s concluding speech. + + +“LORD KINNAIRD: I am quite ready, as far as Professor Graham is +concerned, to acquit him individually and personally from anything +improper; all I have to say with regard to Professor Graham is that +he was not a fit person for the office, as he continued the jobbery +which he found in existence, and which had prevailed there ever since +the Mint was a Government office. He appointed his own brother, a +calico printer, to an office for which he was entirely unfit, not +only on the ground of general incompetence, but from his well-known +habits of intemperance. I am quite ready to admit that the bulk of the +information I possess upon the subject is obtained from Mr. Ansell, +who was for many years employed by the Master of the Mint, and who, as +the returns show, succeeded in making even the gold coinage a paying +department, as it should be, instead of a losing department, as it +is; but my statements are also founded on, and confirmed by, returns +presented to both Houses of Parliament. Mr. Ansell also put a stop to +peculation, and made himself very unpopular among the officials in +consequence. Mr. Ansell gave up very valuable appointments in order to +fulfil his duties at the Mint, under the repeated promise of promotion +when a vacancy should occur; and I am afraid I am responsible for +what is called his dismissal, for, when I applied to the late Prime +Minister for his promotion, Mr. Graham, who, in common with the other +officials, feared an exposure from Mr. Ansell’s promotion, wrote him a +letter of dismissal as follows:— + + ‘_Royal Mint, September 28, 1868._ + ‘DEAR SIR, + + ‘I regret to have to inform you that it is not in my power + to continue your present engagement as an extra officer in + the coining department, while the Mint is only so partially + occupied as it has been for some time past. Your assistance + will not, therefore, be required beyond the 31st of December + next. + + ‘I remain, faithfully yours, + ‘THO. GRAHAM. + + ‘G. F. ANSELL, ESQ.’ + +“After this dismissal the profit ceased and the loss recurred. I +accordingly applied to the Prime Minister and the Chancellor of the +Exchequer for an inquiry, but I was treated rather summarily, and the +Chancellor of the Exchequer said he deprecated any inquiry. Only two +or three months, however, after giving him that notice, and while he +was still engaged in the Mint, Mr. Graham warmly recommended him for +the office of Gas Inspector to the Corporation of London, stating +that he was a well-informed practical chemist, and ‘a man of tried +integrity’—‘a man of _tried integrity_!’ Now, within three months after +the Master of the Mint dismissed this officer—who, as the returns will +show, had saved the country some thousands—he writes this testimonial:— + + ‘I beg to express the very favourable opinion which I + entertain of Mr. G. F. Ansell’s qualifications for the + office of Inspector of Gas to the Corporation of London. Mr. + Ansell is a well-informed practical chemist, and has given + much attention for several years to gas. He is the inventor + of an ingenious instrument for indicating the presence of + fire-damp in the atmosphere of mines, which is much admired + by scientific and practical men. Mr. Ansell is also a man + of tried integrity and great energy. From what I have seen + of him at the Mint I would say that he would devote himself + entirely and conscientiously to the work of the new office, + if appointed.’ + +“THE DUKE OF ARGYLL: Who signed that letter? + +“LORD KINNAIRD: Thomas Graham. And, notwithstanding this high testimony +to the value of his services, this man was dismissed because he knew +too much of what was going on in the Mint. I challenge the Mint +authorities to prove a single statement in his book to be false. If +they can, why do they not contradict him? They dare not. Mr. Ansell’s +book has been some months before the public, and if the Mint could +have challenged his statements, which are very damaging, they would +certainly have done so. I challenge contradiction. I am very glad the +noble Lord has given me the opportunity of making this statement with +regard to Mr. Graham, a talented man, but quite unable to cope with the +clever men about him, unaided by Mr. Ansell. Now that Mr. Ansell has +been dismissed, you see what is the result. The noble Lord has told +your Lordships of reforms which have been made at the Mint; but I can +assure him I expect little good to result from those reforms, for the +very men who then had charge of these departments, and who permitted +the peculations and mismanagement which Mr. Ansell stopped, are the +men who are now promoted to the chief management of the operative +departments of the Mint. I hope, therefore, the matter will not be +allowed to drop, for I am sure there is no department in this or any +other country more corrupt than the Mint.” + + “Motion (by leave of the House) _withdrawn_.”— + (_House of Lords, Monday 18th July, 1870._ Hansard’s Report) + + I beg to express my great obligation to your Lordship for + so complete a determination to obtain justice for me as + you have exhibited, and which has required not only labour + given ungrudgingly, but time, which I am sure would have + been of inestimable value to others. My power to thank is + weak, but I am entirely grateful. I am also obliged to your + Lordship for sending me a copy of Hansard’s Report, which + I, in accordance with your Lordship’s permission, print + elsewhere, but reserve its conclusion as a fitting finish + to this statement, which I submit as a true epitome of my + unfortunate—for myself—connection with the Royal Mint. + + I have the honour to remain, + My Lord, + Most gratefully your Lordship’s obedient and obliged servant, + GEORGE F. ANSELL. + + THE RIGHT HON. LORD KINNAIRD, K.T., F.R.G.S. + Lord-Lieutenant of Perthshire, &c., &c., &c. + + + + +INDEX. + + + Accounts of the Royal Mint, 14-15, 36, 83, 84, + 85, 94, 102, 103, + 104, 106, 107, 115, + 136, 142, 149, 155, 173. + Acts of Parliament relating to the Coinage, 3, 36, 56, 71, + 72, 73, 109, 124, + 150, 157, 159, 166. + Adjusting of Fillets, 9, 19, 20, 22, + 23, 25, 27, 29, + 31, 32, 42, 112-113. + Alloy, Copper is used as, 4, 6, 7, 8, + 13, 21, 31, 46, + 48, 49, 53-56, 58, + 82, 86, 87, 138, + 141, 142, 143, 157-159. + ” Extra, 49, 136, 137, 138, 141. + ” Impurities contained in, 6, 13-14, 81. + ” The best, for Coinage purposes, 49, 81, 157, 158. + ” ” Coining Dies, 81, 157. + Analysis of Bullion, Advantages attending, 13-14, 81, 157-158. + Annealing and Blanching, Debases Standard of Coinage, 31, 48, 49, + 50, 53-56, + 57, 58. + ” Furnace, 21, 48, 49, + 57, 62, 74. + ” Loss occasioned by, 9, 21, 22, 31, + 48, 49, 53-56, 57, + 86, 92, 138, 161, + 162. + Ansell, George F., Diary of, 194-195. + ” Fire-damp Indicator, 182-183, 187, 193, 198. + Ansell’s Standard Gauge, 23-25, 35. + Antimony in Standard Gold attacks Iron, 19. + Argyll, Duke of, ix., 166, 171, 198. + Artists as regards Dies for Coining, 64, 67, 158, 168. + Arts, Journal of the Society of, 66. + Assay Pieces taken, 4, 7, 9, 10, 53-56. + ” ” Weight of, 10, 56. + ” Proofs, 12, 13. + ” Reports, preservation of, 14, 54, 146. + ” Unreported Fractions, 127, 130, 142, 143. + Assayers, Two Resident, suggested, 14, 81. + Assaying Apparatus, Messrs Matthey, Johnson, and Co.’s, 12-13. + ” Cost of, 3, 13, 120-121, 122, 149. + ” Explanation of Process of, 10-14, 56. + ” Loss by, 53, 56, 102, 103, 149. + Ayrton, Right Hon. A. S., 148, 152, 154, 165. + + Balance, Cotton’s Automaton, described, 16, 37-42, 48, 124. + ” ” Bradshaw’s Improvements in, 40-42. + ” ” Pilcher’s Improvements in, 37, 39, 40, 41, 42. + ” Napier’s, for Mint Office, 15, 16. + ” Short’s Improved, for Bullion, described, 16-18. + ” Testing the Accuracy of a, 16. + Bank of England, v., 3, 36, 37, 51, + 54, 55, 64, 65, + 66, 70, 71, 101, + 102, 103, 109, 110, + 122, 123, 126, 150, + 155, 156, 176, 185. + ” ” ” Imports Gold for Coining + and makes profit thereby, v., 3, 4, 126-127, 170. + Bars, by Assay below standard fineness, 49, 53-56, 168. + ” Ends sheared from, 20, 92, 112, 113, + 116, 136, 160, 161. + ” Proportion of Coined Money obtained from, 84, 92, 111, 112, + 113, 114, 115, 117, + 160, 161. + ” Rolling of, 18-25. + ” Used for Coining, Dimensions of, 9, 31, 74, 75. + ” ” ” Uniformity of, desirable, 9, 31, 49, 53. + Barton, Sir John, 29, 31, 32. + Barton’s Draw-Bench, 27-33. + Barton, Mr. W. H., xvi., 29, 30, 56, 63, 86-87, 106, 172, + 175, 182, 183, 184, 191. + Becker, Mr. C., 25. + Blanching and Annealing Blanks debases Gold Coinage, 31, 48, 49, + 50, 53-56, 57, 58. + Blanching, Effects of, 2, 48-49, 53-56-57, 58, + 74, 75, 86, 92, 138, 143, 161. + Blanks, Annealing and Blanching, debases + standard of Coinage, 31, 48, 49, 50, + 51, 53-56, 57, 58. + ” Drying of, by sawdust, 57-58. + ” Dumb, 46, 61-62. + ” Examination of, 35, 41, 42, 46, 50, 61, 70. + ” Filing the heavy, 42-46. + ” Weighing of Individual, 23, 31, 35-36, 37-42, 43, 108-110. + ” Weighing of Gold, 37, 42-44, 46. + Boulton, Mr. Matthew, 61, 69, 169. + Boulton’s Coining Press described, 59-61, 68, 69, 80, 169. + Bradshaw, Mr. William, 40, 41. + Brande, Mr. W. T., xv., 83, 120, 172, + 176, 182, 195. + Britt.—Brit., 75-76. + Brittle Gold, Coining of, v., 6, 49-53, 98, 112, 176, + 180, 181, 185, 190. + ” ” Coins from, Distinctively Marked, 50. + Brockages Imperfect Coins, 68-69, 70, 92, 161. + Bronze Coinage, 9, 33, 64, 68, 73, 74-76, 93, 94, 118, + 121, 129, 147, 162-165. + ” ” Loss of Profit on, 129, 147, 162-165. + ” ” Weight and Value of, 163, 164, 165. + Bullion, Analysis of, 13-14, 81, 157-158. + ” necessity for Analyses of, 13-14, 81. + Bumping, Prevention of, 12. + + Chancellor of the Exchequer, + as regards the Coinage, 3, 104, 120-121, 122-123-125, + 126, 127, 145, 146, 150-151, + 163, 164, 170, 188, 193, 196. + Charcoal, its use when Melting Gold and Silver, 6, 8, 138-139. + Chimney Chambers to _Condense_ volatilized + Gold and Silver, 83, 88, 103, 104-105, + 128, 145, 147, 162, 166-167. + Clipping Coins (the edges of), 59, 62, 64, 125, 141. + Coinage, Integrity and Accuracy of the, 14, 42-44, 53-56, + 70, 71-72, 123-126, 127, 157-159. + Coinage, a Free, 3, 169. + ” Debasement of the, 31, 48, 49, 50, 53-56, 57, 58, 120-121, + 122-123, 157-159. + ” Debates on the, 52, 72, 105, 106, 146-148, 149. + ” International, Commission on, 36, 117, 120. + Coined Money, Annealing of, 50, 51, 52. + ” ” Rate per cent. obtained from Bars, 20, 30, 44, 84, + 89, 92, 107-115, + 117, 140, 161, + 176, 179. + ” ” Weight and Value of Bronze, 68, 73, 162-163, 165. + ” ” Weight and Value of Gold, 3, 36, 56, 68, + 70, 73, 90, 91, + 92, 96, 97, 111, + 112, 114, 117, 119, + 121, 123, 124. + ” ” Weight and Value of Silver, 3, 56, 65, 68, + 71, 73, 132, 133, + 134, 135, 146, 147, + 149, 150, 154, 155, + 156, 161. + Coining, Article on, vii., 4, 71. + ” by Contract, v., 127, 128. + ” Cost of, 42, 43, 44, 51, + 70, 92, 115, 117, + 118-120, 121-123, + 130, 141, 149-150, + 155, 161. + ” Early Methods of, 1-2. + ” Gold, Gain in weight by, 86, 87, 88, 89, + 90, 91, 92, 93, + 94, 95, 98, 99, 100, + 101-104, 145, 168, + 169, 173, 175, 178, + 184, 189, 190. + ” Gold, Loss of Weight by, 9, 16, 21, 22, + 31, 49, 51, 53, + 56-57, 82-83, 84-86, + 87-88, 89, 90, 91, + 92, 94, 95, 98, 99-104, + 117, 119-120, 122, 125, + 126, 129, 145, 173, 174, + 175, 176, 177-179, 180, + 184-189, 190. + ” Press, Description of Boulton’s, 58-61, 68, + 69, 80, 169. + ” Press requires improvements, 58, 61, 69-70, 169. + ” Proposal to fix the rate of Cost of, 115-123. + ” Royal Prerogative, 149, 150, 166. + ” Silver, Gain in Weight by, iv., 3, 95, 130, 131, + 146-148, 151, 160. + ” ” Loss of Weight by, v., 16, 21, 22, 74, + 82, 95, 105, 106, + 126, 130, 131-134, + 139-140, 141, 142, + 143, 145-148, 149, + 151, 155, 161, 162, + 175, 184, 189. + Coins, Amount of Legal Tender in, 68, 76, 151, 162, 166. + ” Cause of Cracked, 46, 61-62. + ” Diameter of, 63, 68. + ” Edges of Crenated, Milled, Grained, 2, 48, 59, + 61-62, 64, 80. + ” ” Lettered, 2, 62-63. + ” Examination for Imperfect, 46, 62, 70. + ” Imperfect, Brockages, 68, 69, 70, 92, 161. + ” Incused, how produced, 69. + ” Pounding of, 35, 49, 53, 71-72, 73, 125, 167. + ” Protecting Edge is necessary to, 2, 46, 48, 62, + 64, 67, 158, 159. + ” Ringing of, 46, 62, 70. + ” Sweating of, 59, 125, 141. + ” Weighing of, after Coining, 39, 43, 45, + 70, 108-110. + ” Weight of Current and New, 36, 39, 66, 68, + 70, 71, 72, 73, + 123, 124, 167. + Collar for Coining Milled, Lettered, 48, 59, 60, 61-62, + 63, 64, 67-68. + Comber, Mr. P. F., 74. + Copper Moneys, 68, 76, 157, 162, 164. + Copper on Gold, Influence of Oxide of, 6, 49. + ” is used as an Alloy, 4, 6, 7-8, 21, 46, + 48, 49, 138. + Corcoran, Mr. Bryan, 195. + Corry, Mr. Montagu, 186. + Cotton, Mr. William, 16, 37, 39, + 41, 42, 124. + Cotton’s Automaton Balance, 16, 37-42, 48, 124. + Crenated or Milled Edge on Coined Money, 2, 48, 59, + 61-62, 64, 80. + Cutting-out Press described, 2, 33-35, 169. + + Dies for Coining, 1, 50, 57, 59, 60, + 64, 68, 76-81, 157, + 158, 167. + Differences in Weighing Bullion, 14-16, 89, 92, 104, + 127, 137, 138, 143, + 160-161, 176, 184. + Difficulties in introducing Improvements, 9, 15, 40, + 44, 46, 51. + Disraeli, Right Hon. B., 183-186-187, 191. + Draw-bench, Description of the, 27-33. + ” Opposition to use of, 29-30, 31-32. + ” Proper mode of using, 32-33. + + Edge-Compressor, 46-48. + Edge, Protecting, to Coins, necessity for, 2, 46, 48, 62, + 64, 67, 158, 159. + Edinburgh, H.R.H. the Duke of, 183. + Ends sheared from Bars, 20, 92, 112, 113, + 116, 136, 160, 161. + Engravings, Initial Letters to Illustrate, 5. + European Mints, Reports upon, 9, 30, 34, 42, 44, + 55, 61, 74, 83, 99-100, + 105, 106, 125, 147, + 148, 168. + Evelyn, John, 62. + Exchequer, Chancellor of the, + as regards the Coinage, 3, 104, 120-121, 122-125, + 126, 127, 145, 146, 150-151, + 163, 164, 170, 188, 193, 196. + + Fairbairn, Mr. W., xvi., 172. + Fenton, Mr. William, 33. + File, Pilcher’s, for reducing Heavy Blanks, 42-46, 176, 179, 180. + Fillets, Adjusting of, 9, 19, 20, 22, + 23, 25, 27, 29, + 31, 32, 42, 112-113. + ” of uniform thickness, 25, 30-31. + Fillets, Dumb, 46, 61-62, 89, 92, 112, 116. + ” Flatted, 25, 26, 27. + ” Rate per cent. of, obtained from Bars, 20, 92, 108, + 112-113, 116, 160-161. + ” Testing accuracy of, 22, 23-24. + Fire-damp Indicator, 182, 183, 187, 193, 198. + Flat end, explanation of term, 27. + Flatting Mill described, 25, 26. + Forbes, Mr. George, 64, 155. + Fourpenny-pieces, Coinage of, required, 10. + Fremantle, Mr. C. W., iii., iv., v., vii., 9, 14, 15, 30, 31, + 55, 56, 59, 72, 91, + 97, 99, 100, 102, 106, + 118, 125, 127, 128, 129, + 133, 135, 144, 147, 152, + 153, 154, 155, 164-165, + 168, 187, 191, 195. + French War Indemnity, Weight of the, 71. + Furnace, Annealing, 21, 48, 49, 57, 62, 74. + + Gauges used in Coining, 22, 23-25, 35. + Gauging Mill, Description of, 22-24, 26-27, 30-31. + Gausby, Mr. Robert, 93. + Gibson, Mr. E. S., 37, 62. + Gladstone, Right Hon. W. E., iii., viii., 76, 101, 115, + 187, 188, 192, 194. + Goodwin, Mr. C. W., iii., 195. + Gold, Annealing of, 22, 31, 48, 49, 50, 53-56, 57-58, 74. + ” Assay of Standard, described, 10-14, 53-56, 81, 122. + ” Brittle, Coining of, 6, 49-53, 98, 105, 112, + 176, 180, 181, 185, 190. + ” Coin, when worn, invariably below standard, 48, 49, + 53-56, 168. + ” Coinage, Statement showing details of, 89, 92. + ” Coining, Authority for, 3, 158, 166. + ” Coins, Weight and Value of Worn and Light, 53-56, 66, 67. + ” Copper is used to alloy, 4, 6, 7-8, 21, + 46, 48-49, 53-56. + ” Gain by Coining, 86, 87, 88-89, 90-91, + 92, 93, 94, 95, 98, + 99, 100, 101-104, 145, + 168, 169, 173, 175, 178, + 184, 189, 190. + ” Loss by Annealing, 21, 22, 31, 48, + 49, 53-56, 57, + 86, 92. + ” ” Coining, 9, 16, 21, 22, + 31, 49, 51, 53, + 56-57, 82-83, 84-86, + 87-88, 89, 90, 91, + 92, 94, 95, 98, 99-104, + 117, 119-120, 122, 125, + 126, 129, 145, 173, 174, + 175, 176, 177-179, 180, + 184-189, 190. + ” ” Melting, 86, 87, 96, 97, + 98, 99-104, 105, + 106, 145, 178, 184, + 190. + ” Melting of, described, 5-7, 46, 53, 56, + 129, 144. + ” Price of Standard, 3, 55, 66, 67, + 70, 73, 84, 120, + 122, 130. + ” Refining of, 14, 49, 50, 52, + 53, 81-82, 104, 108. + Gold Standard, 3, 4, 36, 53-66, + 70, 73, 84, 120. + ” ” affected by Antimony, 14, 19, 49, 50, + 51, 176, 180, + 181, 185, 190. + ” ” affected by Arsenic, 14, 49, 50, 51, + 176, 180, 181, 185, 190. + ” ” affected by Lead, 6, 14, 49, 51, 81. + ” ” ” Mercury, 14, 81. + ” ” ” Osmium-Iridium, 81. + ” ” ” Oxide of Copper, 6, 49. + ” ” ” Palladium, 81. + ” ” ” Platinum, 81. + ” ” ” Tin, 14, 81. + ” ” ” Zinc, 6, 14. + ” Sweep recovered after Coinage of, 82, 83, 86, + 88, 90, 91, 93, + 98, 106-107. + ” ” ” Melting of, 96, 97, 98, 106-107. + ” Weight and Value of Coined, 56, 84, 90, 91, + 92, 96, 97, 106, + 111, 114, 121, 167, + 178, 190. + ” and Silver Refining of, 81-82, 104, 138, 160. + ” while at the Mint bears no interest, 126. + Graham, Mr. John, 15, 44, 71, 94, + 98, 108, 112, 163, + 182, 185, 187, 191, + 196, 197. + ” ” Thomas, iii., iv., vii., viii., + ix., xi., xv., xvi., + 50, 51, 54, 71, + 83, 93, 118, 119, + 144, 153, 154, 155, + 164-165, 170, 172, + 174, 180, 182, 183, + 187, 193, 194, 195, + 196, 197, 198. + Graphite Pots for Melting, 5, 129. + Granville, Right Hon. Earl, 166. + + Hatchett, Experiments of, 49, 157. + Hatchett, Mr. C., 49, 157. + Hawkins, Mr. Edward, 62. + Herschel, Sir J. F. W., 54, 167. + Hofmann, Dr. A. W., xv., xvi., 172, 189. + Holland, Mr. P. H., 183. + Hubbard, Mr. J. G., 55, 121. + Hunt, Mr. Robert, 182, 183. + + Imperfect Coins, Brockages, 68, 69, 70, 92, 161. + Importation of Ingots for Coining, 3, 4, 127, 170. + Improvements, Difficulties attending introduction of, 9, 15, 40, + 44, 46, 51. + Indemnity, Weight of the French War, 71. + Indenture, Weight and Fineness of each Coin + was fixed by Mint, 36, 71, 108, 166. + Indicator, Fire-damp, 182, 183, 187, 193, 198. + Ingots, “Potting” of, 4. + Integrity and Accuracy of the Coinage, 14, 42-44, 53-56, + 70, 71-72, 123-125, + 127, 157-159, 166-167. + International Coinage, Report of Commissioners on, 36, 119, 120. + Italy, Bronze Coinage of, 64. + + Jones, Mr. Meredith, 47, 179, 180. + Journey, Weight a, 36, 70. + + Keys of Strongholds, 173. + Kinnaird, Right Hon. Lord, iii.-v., vii., ix., xiii., + 51, 52, 54, 56, 91, 97, + 100, 101, 102, 105, 106, + 108, 126, 133, 135, 145-147, + 148, 149, 151, 152, 153, + 163, 164, 171, 183, 186, + 188, 192-199. + ” Hon. A., M.P., 192, 194. + + Lansdowne, Marquess of, iv., ix., 52, 99, + 100, 104, 105, 106, + 146, 147-148, 149, + 152, 171. + Legal Tender, Amount of Coins in, 68, 76, 151, 162, 166. + Loss by Annealing, 9, 21, 22, 31, + 48, 49, 53-56, 86, + 92, 138, 161, 162. + ” by Coining Bronze, 129, 147, 162-165. + ” ” Gold, 9, 16, 21, 22, 31, 49, 51, 53, 56-57, 82, 83, + 84, 86, 87-88, 90, 91, 92, 94, 95, 98, 99-104, + 117, 119, 120, 122, 125, 126, 129, 145, 173, + 174, 175, 176, 177-179, 180, 184-189, 190. + ” ” Silver, v., 16, 21, 22, 74, 82, 95, 105, 106, 126, + 130, 131-133, 139-140, 141, 142, 143, 145-148, 149. + ” by Melting Gold, 86-87, 96, 97, 98, 99-104, 105, 106, + 145, 178, 184, 190. + ” by Melting Silver, 131, 134-135, 136-142, 143, 144, 184, 189. + ” of Profit on Silver Coinage, v., 129, 130, 146, 147, + 148-151-156. + Lowe, Right Hon. Robert, iii., v., ix., 104, 120, 127, 150, 151, + 164, 166, 171, 188, 192, 193, 196. + Lowndes, Mr. W., 2, 159. + Lowry, Mr. J. W., 37. + + Marking Machine, Jones’s, 46-48. + Martin, Mr. John, 30. + Mathison, Mr. Gilbert F., 99. + Melting Gold, Loss by, 53, 86, 87, 96, 97, 98, 99-104, + 105, 106, 145, 178, 184, 190. + Melting Gold, Process of, described, 5-7, 46, 53, 56, 129, 144. + Melting Silver, Process of, described, 7-9, 46, 129, 138-145. + Melting Silver, Gain by, 134-135, 136, 137, 142, 143. + ” ” Loss by, 131, 134-135, 136-142, 143, 144, 184, 189. + ” Value of Sweep recovered from Gold, 96, 97, 98, 106-107. + ” Value of Sweep recovered from Silver, 106, 107, 131, 134, + 135, 138, 139, 140, + 144. + Metals, Annealing of, _see_ Annealing. + Miller, Mr. John, 66. + ” ” Wm., 64, 65, 67, 155, 156. + Mint Indenture formerly fixed Weight and + Fineness of Coins, 36, 71, 108, 166. + Mint Notes, Issue of, for Bullion, 170. + Mint premises, building of New, v., 127, 128. + Money, Hammered and Milled, 1, 2, 159. + Moneyers, The Company of, 82, 87, 99, 112. + Monteagle, Lord, 166. + Murray, Mr. John, 31. + + Napier, Mr. James M., 15, 16, 34, 37, + 40, 42, 44, 59, + 61, 74, 108, 147, + 148, 169. + + Oakes, Mr., 182. + Oil on Scissel, 29, 32, 33, 35, + 86, 87, 98, 99, + 131, 136, 139, + 140, 174, 175, 176. + ” to Lubricate Fillets, 32, 33, 176. + Orders, “Circulating,” 94. + Office, System of Promotion to, v., viii., 15, 52, + 56, 94, 108, 115, 128, + 153, 169, 171, 173, 175, + 176, 177, 182. + + Parliament, Acts of, relating to the Coinage, 3, 36, 56, 71, + 72, 73, 109, 124, + 150, 157, 159, 166. + Palmerston, Lord, xv., 140, 171. + Pepys, Samuel, Diary of, 158, 159. + Percy, Dr., 6, 52. + Pilcher, Mr. Richard, 37, 39, 42, 44, + 47, 177, 179, 180. + Pilcher’s File, 42-46, 176, 179, 180. + Playfair, Dr. Lyon, iii., iv., 195, 196. + Pounding of Coins, its use and abuse, 35, 49, 53, 71-72, + 73, 125, 167. + Proclamations relating to the Coinage, 68, 76. + Promotion to Office, System of, v., viii., 15, 52, + 56, 94, 108, 115, + 128, 153, 169, 171, + 173, 175, 176, 177, 182. + Pyx Pieces, Weight of, 56, 92, 112, 113, 114, 161. + ” Suggestions as to the Trial of the, 53-54, 56. + ” The Trial of the, 49, 56, 70, 123-124, 166-167. + + Queen, Her Majesty the, 166, 168, 183. + + Rejected Blanks, 30, 32, 35, 42-44, + 46, 92, 107-110, 161, + 170, 179, 184, 189. + Rejected Coins, 42-44, 46, 107-110. + ” explanation of term, 44. + Remedy allowed, 32, 39, 43, 108. + ” explanation of term, 39, 167. + ” practically used, 32, 71-72, 108-110, 112. + Rennie, Mr. G., xvi., 172. + Reports on Mint, 14, 118-119, 127, 147. + Roberts, Mr. W. C., v., 52, 53, 55, + 56, 57, 74, 99, 100, + 105, 129, 144, 147, + 153, 154. + Rolling Mill, 18-20, 22-23, 26-27, 30-31. + Rolling Mills, Accuracy to be obtained by, 23, 25, 27, 30-31. + Rollers, Steel, 26, 27, 30, 31. + Rossie, Lord, _see_ Kinnaird, Lord. + Ryan, Sir Edward, 166. + + Scissel, Meaning of the word, 2, 35. + ” Melting of, 8, 136-137. + ” Oil upon, 29, 32, 33, 35, + 86, 87, 98, 99, + 131, 139, 140, 174, + 175, 176. + Seyd, Mr. Ernest, 54-55, 130. + Shears, Description of, 19, 20, 21, + 25, 30, 31. + Short, Mr. S. R., 16. + Silver copper used to alloy, 7-8, 46, 49. + Silver, Annealing of, 2, 31, 72-74, 143, + 161, 162. + ” as an Alloy for Gold, 13, 53, 81. + ” Assaying of Standard, 13. + ” Authority for Coining, 3, 166, 167. + ” Coinage, Loss of Profit or Seigniorage on, v., 129-130, 146, + 147, 148-151-156. + ” ” Profit or Seigniorage derived from, iv., 3, + 146-148, 151, 152, + 153, 154-156, 157-159. + ” ” Tabular Statement showing details of, 159, 160, + 161, 162. + ” ” Weight and Value of, 65, 132-135, 146, + 149, 150, 151, 152, + 154, 156, 160, + 161, 167. + ” Coining of, 7, 67, 72, 74, + 116, 118, 121, 129, + 143, 159-161. + ” Coins, Weight and Value of Worn and Light, 64-65, 66, 67, + 130, 146, 152, 155, 156. + ” Gain by Coining, 95, 130, 131, 160. + ” ” Melting, 134-135, 136, 137. + ” Loss by Annealing, 31, 72-74, 143, 161, 162. + ” ” Coining, v., 16, 21, 22, 74, + 82, 95, 105, 106, 126, + 130, 131-133, 139-140, + 141, 142, 143, 145-148, 149. + ” ” Melting, 131, 134-135, 136-142, + 143, 144, 184, 189. + ” Melting of, 7-9, 46, 129, 138-145. + ” Standard, 3, 8, 73, 129, 130, 142, 157. + ” Sweep recovered from Coinage, 82, 83, 86, 106-107, + 131, 132, 133, 144. + ” Sweep recovered from Melting, 106-107, 131, 134, 135, + 138, 139, 140, 144. + Simon, Thomas, Petition Crown of, 62-64. + Smith, Colonel J. T., 140-141, 142-143. + ” Dr. Angus R., 183. + ” Mr. Richard, 6. + Soap for Lubricating Fillets, 32, 33. + Sovereign, Legal and Current Weight of, 39, 66, 68, 70, + 73, 120, 122-123, 124. + ” Sweating of, 59, 125, 141. + Steel Rollers, 26-27, 30-31. + ” Used for Dies, 76-81, 157-158. + Sterry, Mr. Charles, 194. + Strongholds, the Keys of the, 173. + Supply, or Scrap Bullion, 86, 98, 161, 162. + Sweep, explanation of term, 86, 106, 140. + ” recovered from Gold Coinage, 52, 82, 83, 86, + 88, 90, 91, 93, + 98, 106-107. + ” ” ” Silver Coinage, 82, 83, 86, 106-107, + 131, 132, 133, 144. + ” ” ” Gold Melting, 96, 97, 98, 106-107. + ” ” ” Silver Melting, 106, 107, 131, 134, + 135, 138, 139, 140, 144. + + _Times_ newspaper, Letters in the, 37, 52, 54-55, 72. + Tomlino, Colonel, 169. + Tomlinson’s Cyclopædia, article on coining, viii., 4, 71. + Trevelyan, Sir Charles, 195. + Trier, Duties of the, 26, 31, 33, 35-36. + + Value of Gain, _see_ Gold, Silver, Gain by Coining. + ” Loss sustained, 31, 65, 67, 83, + 84, 86, 89-91, 96-97, + 98-99-100, 101, 102, + 104, 105, 125, 128, + 129, 131-135, 137, 143, + 144, 145-149, 150, 151, + 153, 154, 155-156, 161, + 163, 164, 165, 174, 178, + 179, 190. + ” Money Coined in each Coinage, _see_ Coined Money. + ” Standard Gold, _see_ Gold, price of Standard. + ” Sweep recovered, _see_ Sweep recovered. + Versmann, Mr. F., 195. + Volatilization of Gold and Silver in + Coinage operations, 83, 88, 103, 104-105, + 128, 145, 147, 162. + + Wages System, Suggested new one, 115-119, 121-123. + ” ” under which paid for Coining, 46, 115-119. + ” ” under which paid for Melting, 46, 116-117. + Warington, Mr. Robert, 81. + Waste, _see_ Coining, Loss by. + Weighing Bullion, Differences made in, 14-16, 89, 92, + 104, 127, 137, + 138, 143, 160-161, + 176, 184. + ” ” System of, 14-16, 136, 137, 138. + ” Machines, Cotton’s Automaton, 16, 37-42, 48, 124. + ” ” ” Bradshaw’s Improvements in, 40-42. + ” ” ” Pilcher’s Improvements in, 37, 39-40, 42. + ” ” Napier’s, for Mint Office, 15, 16. + ” ” Short’s, for Bullion, 16-18. + Wellington, Duke of, 54. + Westbury, Lord, 166, 167. + Wilson, Mr. C. Rivers, 14, 127, 147. + Wood, Mr. Halder, 195. + Worn Coins below Standard by Assay, 48-49, 53-56, 57. + ” ” Weight and Value of Gold, 53-56, 66, 67. + ” ” ” ” Silver, 64-65, 66, 67, + 130, 146, 152, 155-156. + Worn-out Melting-Pots, 139, 140. + + Zinc causes difficulty in Coining Bronze, 75. + ” ” ” ” Gold, 6, 14. + +“THE ROYAL MINT.”—THIRD EDITION + + +OPINIONS OF THE PRESS. + +Especially worthy of official attention, and is accompanied by +suggestions for an amended system.—_Times._ + +According to Mr. Ansell, who is every way entitled to credit, great +loss has frequently arisen through the promotion of incompetent men +who cannot handle properly the fine instruments employed.... The whole +subject is of special interest at the present time, and Mr. Ansell’s +contribution to the facts of the discussion will be frequently appealed +to.—_Economist._ + +From an extensive knowledge of the practical working of the Royal Mint, +Mr. Ansell has given the educated world a very clear and comprehensive +account of the operations of that institution, and has endeavoured to +show—and, we are convinced, has succeeded in showing—the nature of the +defects through which it has for a long period proved no inconsiderable +burden to the country. The writer was elected to his post through his +known scientific and technical attainments; and the work now before +us is worthy of his reputation.... The practical aim of the book is +to prove that the Royal Mint should no longer be a burden to the +country, and that the losses now entailed could, by a better system of +management and supervision, be reduced practically to _nil_.—_Money +Market Review._ + +Mr. Ansell enters fully into the very interesting details of the +various processes involved in coining for the Bank; from the reception +of the ingots to their conversion into the circulating medium of the +realm. The text is much assisted by numerous well-executed woodcuts and +steel engravings, which serve to explain the internal economy of the +Mint, and the various pieces of elaborate machinery required to produce +the enormous quantity of money which must be kept in use in a country +having the extended commercial interests of England.... Mr. Ansell’s +book is extremely opportune, and deserves careful perusal.—_Examiner +and London Review._ + +The author of this book is, unquestionably, thoroughly versed in the +metallurgical, chemical, and mechanical details of the subjects treated +therein.—_Morning Advertiser._ + +Mr. Ansell having been employed in the Mint, is well qualified to speak +on the subject of which he treats. At this juncture, when discussions +with regard to that establishment and the coinage are before the +Legislature, the book will be well worthy of the perusal of those +taking part in the controversy.—_Standard._ + +An interesting work relating to the operations of that +establishment.—_Daily News._ + +Those interested in the subject may investigate the alleged +shortcomings of the administration by its light, and ascertain if the +Bill of Mr. Lowe will effect any of the needed reforms, and to what +extent. The contents of the book are of an important character, and +merit careful consideration.—_Bullionist._ + +Mr. Ansell has at command a thoroughly practical, official, and +scientific knowledge of his subject; and from the position which he +occupied, is entitled to speak with authority. His opinions, therefore, +on the economical bearings of the coinage discussion, both social and +political, are of real interest.... The chief value of the work is that +we are here shown, by one who for a long time held responsible office, +what he considers to be the faults of the existing system.... Now that +the Mastership of the Mint has become vacant, and the question is +before the country how it shall be filled, the interest of the book, +great in itself, is enhanced.—_Financier._ + +We wish to direct attention to a very valuable work entitled “The Royal +Mint,” by Mr. G. F. Ansell. The whole question of coinage is under +the consideration of the Chancellor of the Exchequer, who is expected +to make several changes in the organisation and management of the +Mint, therefore Mr. Ansell’s work will no doubt be carefully perused +by Members of the House of Commons, as it throws much light on every +branch of working up the gold and silver into coins.—_London Mercantile +Journal._ + +This work will be read with much interest as public attention has +so recently been drawn to the management of the Mint. The author +writes from his own personal experience, having been engaged as +an authoritative member of the staff under the late master, Mr. +Thomas Graham. The author asserts that each of his statements is the +result of his actual experience, and capable of proof. The work is +amply illustrated with some very fine engravings, which are fully +explained in the text. Mr. Ansell’s suggestions for the better +scientific and official management of the Mint should command serious +attention.—_Public Opinion._ + +This is a most important work, and it has been published +opportunely.... We cannot even indicate the many points of importance +to which Mr. Ansell draws our attention, but while giving the work +general commendation, we heartily advise its perusal by all who are in +any way interested in the subject.—_Civil Service Gazette._ + +The present position of affairs at the Royal Mint, and the interesting +service which has been rendered by Lord Kinnaird in the discussion +in the House of Lords on the Coinage Bill, cannot fail to secure for +Mr. Ansell’s skilfully prepared book more than an ordinary amount +of attention.... The management of the Mint is a matter of national +importance, and the practical experience and thorough knowledge of +mechanics possessed by Mr. Ansell have enabled him to produce a +comprehensive and valuable book of reference.—_Dundee Advertiser._ + +We receive with much satisfaction so lucid an account of the working +of the Mint, and the highly important suggestions for its better +management, as set forth in Mr. G. F. Ansell’s excellent treatise.... +The book now under notice, which is dedicated to Lord Kinnaird, will +tend very much to enlighten all who may take an interest in this very +important subject.—_Court Journal._ + +Mr. Ansell frequently pauses to point out how, according to the +conclusions formed from his personal observations and mechanical +knowledge, the processes of manufacture might be simplified or +cheapened. He insists that if the mechanical improvements suggested by +him were followed out “the result would be a clear saving of £4,000 a +year.”—_Echo._ + +No one needs any longer to complain of want of information as to +the manner in which the coinage of the country is prepared, or what +are the duties of those who are entrusted with the important duty +of supervising its mintage. In a comparatively small compass this +book tells all that can be said on these heads, besides giving other +details, the purpose of which is as practical as the manner of +description is precise and positive.—_Bell’s Weekly Messenger._ + +In addition to the information to be found in the book regarding the +coining of money, those interested in mechanical details will doubtless +read with pleasure the minute description of the whole of the machinery +in use in the Mint. The book has done and will do good service.—_South +London Press._ + +Mr. Ansell’s book is cleverly written, and will probably lead to +enquiry.—_City Press._ + +This is in many respects a remarkable work, for it displays both +scientific and technical knowledge on the subject of the coinage to +an extent that at the present time can scarcely be surpassed.... The +book is full of interest, for the facts are carefully marshalled, and +the illustrations with which the volume is enriched are apposite and +excellent. We can, therefore, unhesitatingly recommend the work to such +of our readers as take an interest in such subjects.—_Scotsman._ + +We will close with two quotations from this really valuable book, +containing, as it does, so much that is interesting, and showing so +intimate an acquaintance on the author’s part with the subject of which +it treats.—_Edinburgh Evening Courant._ + +It is clear, however, that the evils proverbially connected with money +are in full force at the Royal Mint: anxiety weighs down the higher +authorities, heart-burnings prevail amongst the lower, irregularities +exist amongst the subordinates. It is probable that some change has +taken place in the management of matters since the author was in the +position of an eye-witness; but the general value of his work is not +likely to have been much diminished thereby.—_Illustrated London News._ + +LONDON: EFFINGHAM WILSON, ROYAL EXCHANGE. + +PRINTED BY VIRTUE AND CO., CITY ROAD, LONDON. + + +*** END OF THE PROJECT GUTENBERG EBOOK 78741 *** |