410 ANNUAL REGISTER, ]S]6. 



the unusually high jaices of the 

 precious mctiils, and othor cir- 

 cumstances arisi g out of a state 

 of war, had obliged them to e^us- 

 ptnd ; and they now takt K-a\e 

 humbly to represent to\ourR \a.\ 

 Highnt-ss, that an innneiliate 

 coinage (,f gold and s.lver monies 

 Would he of great pul-hc benelit : 

 but that if your Royal Highness 

 shduhl be pleased to g,ve direc- 

 tions for ciiiiying the same into 

 effect, the\ do net conceve it 

 woiil.l be advisa le to n.ake any 

 alteration either in ti e standaid, 

 "eiidht, or denominations of the 

 gold coins. The committee arc, 

 hovvevei , of opinion that it should 

 forthwith be proposed to parlia 

 ment, to pa-'^ an act declaring the 

 gold coin alone to be tiie stand;ird 

 coin of this reabii ; and that the 

 sdver coins are hereafter to be 

 considered merely as representa- 

 tive coins, and to l;e a legal ten- 

 der only in payment of sums not 

 exceeding two guineas 



The committee do not thii,k it 

 necessary to state to your Koval 

 Highnes the reasons ^^hich ha\e 

 led them to •ecommeiul that the 

 gold coin a!i/ne should be declartd 

 to be the standard coin of tl;e 

 realm, because they conceive that 

 sueh a declaration by parliament 

 would in truth be merely in con- 

 firmation of a principle already 

 established by tlie universal con- 

 sent and practice of his Majesty's 

 subjects, and which appears to he 

 in a great measure recognised by 

 the act of 38 Geo. III. chap. 59. 



With respect to the silver coins, 

 of which an immediate supply ap- 

 peals to be moi'e indispensably 

 necessary for the jniblic conveni- 

 ence, the committee are of opini- 

 on, that no alteration should be 



made eitlier in the standard of 

 fineness or in the denominalions 

 of the coins; l/ut they thii.k it 

 Mill lj" acbi?alile to diniinisii the 

 weight of ihe |.ieces, m (jider to 

 prevent a recunei ce of those in- 

 convenencies which ha^e hilheito 

 arisen ft in the melting of ihe 

 new and pe feet .sihei' coins as 

 soon ;is hey i.ave appeared in 

 c.rciilaiii.n, tnr the purpose i.f 

 conxeitmg them into tml ion, in 

 whicli stae they ha\e geneially 

 i)een nicjie v.dnable than as coin : 

 the counnittee are theiefme of 

 opinion, tli.it it sntndd be pro- 

 po.-ed to parliament to antiiorize 

 his .Majesiy to direct, ihat in all 

 future coinages oi silver, sixty- 

 six .shillings (and i ther coins in 

 ))n)poilion) shall he struck fnnn 

 each (lonml weight tioy of staiid- 

 ard sdver, instead i f ^ixt\-l^^o. 



It has hitlieito been the piac- 

 tice in liis iviaie--t\s iMmttoie- 

 turn. to those wiio impi/rt silver 

 fo!' the puipoe of jiiiving ii lon- 

 vertecl into coin, a cpiant.ty of 

 coin equal in weight to ihe qnan- 

 tit\ of standard siher so in pitt- 

 ed, the expense (.f c<iining being 

 borne b\ the public, bo long as 

 the siher coins were considered 

 to be the standiud coin of the 

 realm, this principle appears to 

 this committee to have been a 

 wise one, and they conceive that 

 it should st:ll be adh.ered to in re- 

 spect of the gold coin, wnich is 

 now to be declared the standard 

 (oin of the jealm ; but the com- 

 mittee are of opinion thiii the 

 charge of coining the silver coins, 

 as well as a small allowance for 

 seignorage, ought to be deducted j 

 and that his Majesty should be 

 authorized to direct the Master of 

 his Mint to retain four shillings 



out 



