and before the
coin grew current: For in this circumstance Mr. Wood must serve for a
precedent in future times.

[Footnote 14: The portion here in square brackets was printed in the
fourth edition of this Letter and in the work entitled, "Fraud
Detected." It is not given in Faulkner's first collected edition issued
in 1735, nor in "The Hibernian Patriot," issued in 1730. [T.S.]]

Let us now examine this new patent granted to William Wood. It passed
upon very false suggestions of his own, and of a few confederates: It
passed in England, without the least reference hither. It passed unknown
to the very Lord Lieutenant, then in England. Wood is empowered to coin
one hundred and eight thousand pounds, "and all the officers in the
kingdom (civil and military) are commanded" in the Report to countenance
and assist him. Knox had only power to utter what we would take, and was
obliged "to receive his coin back again at our demand," and to "enter
into security for so doing." Wood's halfpence are not milled, and
therefore more easily counterfeited by himself as well as by others:
Wood pays a thousand pounds _per ann._ for 14 years, Knox paid only
_16l. 13s. 4d. per ann._ for 21 years.

It was the Report that set me the example of making a comparison between
those two patents, wherein the committee was grossly misled by the false
representation of William Wood, as it was by another assertion, that
seven hundred ton of copper were coined during the 21 years of Lord
Dartmouth's and Knox's patents. Such a quantity of copper at the rate of
_2s. 8d. per_ pound would amount to about an hundred and ninety thousand
pounds, which was very near as much as the current cash of the kingdom
in those days; yet, during that period, Ireland was never known to have
too much copper coin, and for several years there was no coining at all:
Besides I am assured, that upon enquiring into the custom-house books,
all the copper imported into the kingdom, from 1683 to 1692, which
includes 8 years of the 21 (besides one year allowed for the troubles)
did not exceed 47 tons, and we cannot suppose even that small quantity
to have been wholly applied to coinage: So that I believe there was
never any comparison more unluckily made or so destructive of the design
for which it was produced.

The Psalmist reckons it an effect of God's anger, when "He selleth His
people for nought, and taketh no money for them." That we have greatly
offended God by the wicke