64] ANNUAL REGISTER, 1816. 



months. With regard to the in- 

 deaiiiity to be granted to the 

 holders of the old coin, he was 

 disposed to adojjt the most libei'al 

 principles ; and he would pro- 

 pose, that all the silver which 

 could be considered as legal ten- 

 der, by having the proper marks, 

 shoidd be i-eceived, when called 

 in, at the current value. Mere 

 counterfeits could not be received 

 for more than their value, as de- 

 termined by weight and hncness. 

 He concluded, by moving an ad- 

 dress to the Prince Regent, thank- 

 ing him for his message, and 

 assuring him of tlie desire of the 

 HousC; to concur in its objects. 



The Enrl of Lauilexlale de- 

 clared his dissent from the doc- 

 trines maintained by the noble 

 earl, and reasoned against the 

 principle, that gold was the best 

 standard for the coin of the king- 

 dom. He stated the great c.v- 

 pense which uoidd accrue to flie 

 public, by caUing in the current 

 silver and i.'5suing a new silver 

 -coinage; and expressed his ap- 

 prehension, that tlic fluctua!i<ni5 

 in the price of silver would oc- 

 casion the new coin to be melted 

 ilown. Oa these grounds he pr<r- 

 piL-^c^l an amendment to the ail- 

 dress, consi,'<ting of a detail of 

 objections to the plan of a new 

 coinage, and an hnnible request, 

 tliat it might be suspended. 

 ' . The amendment was negatived, 

 and (he original address was 

 agreed to without a dixision. 



Jn the House of Commons, the 

 subject of the Priivcc Regent's 

 message was taken into consi- 

 deration on May 30th. 



Mr. Welkslcy Fulc (master of 

 the mint) rose to explain the 

 grounds on which a new coinage 



of silver had been directed, and 

 the principles upon which it was 

 proposed to carry this measure 

 into ettect. In his speech, he en- 

 tered more mimitely into the sub- 

 ject than was done by the mi- 

 nister in tl\e upper house, parti- 

 cularly with resj)eet to the ques- 

 tion, whether gold or silver was 

 the fittest metal for a standard of 

 coin. With regard to the mode 

 of withdrawing the old, and sub- 

 stituting the new c(>in, he said 

 he should ])ropose, that no altera- 

 tion shoidd take })lacc in the coin, 

 till two millions and a half of the 

 new coin sliould be ready to issue 

 frou) the Mint ; but while it was 

 in progress, proper steps wouhl 

 be taken to lodge it for circula- 

 tion. AV'hen all was jjrepcared, a 

 proclamation would be issued, 

 calling uj)on all peisons to bring 

 in their old coin to be exchanged 

 within a limited time, and he did 

 not doubt, that the transfer might 

 be eflccted within a xay few 

 days. \\'hen the new coin got 

 into circulation, it W'ould of 

 course supersede the bank tokens, 

 which would be bM'ought to the 

 jMint to be rc-coined. It hafl at 

 fust been intended to send half a 

 million of the new coin to Ire- 

 land, but upon consideration, tliis 

 ))lan had been abandoned. In 

 (hat country, tlie bank tokens in 

 circulation were coined by go- 

 vernment, and by act of jiarlia- 

 mcnt had been made a legal ten- 

 der till the cxj)iration of the 

 IJank restrieti(Mi, when they were ' 

 to be received by the tellers of 

 the Exche(pier, and coins of the 

 realm exchanged. The right hon. 

 gentleman comhuled, by moving 

 the following resolutions : 



' ' That it is expedient, that all 



silver 



