FREE BOOKS

Author's List




PREV.   NEXT  
|<   118   119   120   121   122   123   124   125   126   127   128   129   130   131   132   133   134   135   136   137   138   139   140   141   142  
143   144   145   146   147   148   149   150   151   152   153   154   155   156   157   158   159   160   161   162   163   164   165   166   167   >>   >|  
y have been done by chance, or rather I suppose them to be counterfeits. Be that as it will, it is allowed on all hands, that good copper was never known to be cheaper than it is at present. I am ignorant of the price, further than by his informing me that it is only fourteenpence a pound; by which, I observe, he charges the coinage at thirty per cent.; and therefore I cannot but think his demands are exorbitant. But, to say the truth, the dearness or cheapness of the metal do not properly enter into the question. What we desire is, that it should be of the best kind, and as weighty as can be afforded; that the profit of the contriver should be reduced from sixteen to eight per cent.; and the charge of coinage, if possible, from thirty to ten, or fifteen at most. Mr. M'Culla must also give good security that he will coin only a determinate sum, not exceeding twenty thousand pounds; by which, although he should deal with all uprightness imaginable, and make his coin as good as that I weighed of King Charles II., he will, at sixteen per cent., gain three thousand two hundred pounds; a very good additional job to a private tradesman's fortune! I must advise him also to employ better workmen, and make his impressions deeper and plainer; by which a rising rim may be left about the edge of his coin, to preserve the letter from wearing out too soon. He hath no wardens nor masters, or other officers of the mint, to suck up his profit; and therefore can afford to coin cheaper than the Crown, if he will but find good materials, proper implements, and skilful workmen. Whether this project will succeed in Mr. M'Culla's hands, (which, if it be honestly executed, I should be glad to see,) one thing I am confident of, that it might be easily brought to perfection by a society of nine or ten honest gentlemen of fortune, who wish well to their country, and would be content to be neither gainers nor losers, further than the bare interest of their money. And Mr. M'Culla, as being the first starter of the scheme, might be considered and rewarded by such a society; whereof, although I am not a man of fortune, I should think it an honour and happiness to be one, even with borrowed money upon the best security I could give. And, first, I am confident, without any skill, but by general reason, that the charge of coining copper would be very much less than thirty per cent. Secondly, I believe ten thousand pounds, in halfpence and farthing
PREV.   NEXT  
|<   118   119   120   121   122   123   124   125   126   127   128   129   130   131   132   133   134   135   136   137   138   139   140   141   142  
143   144   145   146   147   148   149   150   151   152   153   154   155   156   157   158   159   160   161   162   163   164   165   166   167   >>   >|  



Top keywords:
thirty
 

fortune

 

thousand

 
pounds
 

workmen

 

society

 

confident

 

security

 

sixteen

 

charge


profit

 
coinage
 

cheaper

 
copper
 
implements
 

skilful

 

Whether

 

proper

 

materials

 

project


reason

 

executed

 

general

 

honestly

 

coining

 
succeed
 

afford

 

wardens

 

wearing

 

farthing


masters

 

Secondly

 
officers
 

halfpence

 

considered

 

honest

 

rewarded

 

losers

 

whereof

 

perfection


gentlemen
 
gainers
 

scheme

 

country

 

letter

 
brought
 

starter

 
borrowed
 
easily
 

honour