MINT. 



SI INT. 



the reign of Henry VIII. Of the lay baron* of Stephen's time, we 

 have bat one coin now extant, usually ascribed to Robert earl of 

 Gloucester. Pegge'a < Dissertation on the Coin* of the archbishop* of 

 Canterbury,' Noble'* on those of the bishops of Durham, and more 

 particularly Ruding's enumeration of the places where Mints ainl l-'.\- 

 changes have been fixed in Britain and its dependencies, will supply 

 the reader with the amplest information upon this subject 



From a very early time the moneyen seem to have enjoyed exclusive 

 privileges. In tho 33 Henry II. the moneyen of York were expressly 

 exempted from the payment of the "Donum," which was snessod 

 ii).. nthe men of that city. (Madox, vol. i., p. 635.) In the 18 Henry I II. 

 the mayor, Ac., of London were commanded not to infringe upon the 

 liberties of the king's moneyen of London, by exacting from them 

 tillages or other custom* contrary to their privilege* (Ci 18 Henry III., 

 m. 30) ; and before hi* 41st year those privileges appear to have been 

 'I to the whole body of officers belonging to the mint; for at 

 that tune the bailiffs. &c., of Canterbury were ordered to appear in tho 

 Exchequer to receive judgment for having distrained upon the" 

 jfficcrs of that mint (Madox, ' Hist Exch. ; ' Ruding, ' Annals of the 

 Coinage.') 



The earliest grant of these privilege* by charter was hi the reign of 

 Edward I., when tho officers of the exchange and of the mint were (by 

 the names of the keepers of the changes of the city of London and 

 Canterbury, the labourers, or worken, money-moken, or coiners, and 

 other ministers deputed or appointed unto those things which touch 

 the office of tho changes aforesaid) freed from all tollages, and were not 

 to be put into any assizes, juries, or recognisance, and were to plead 

 before the said keepen of the changes only, except in pleas appertaining 

 unto freehold and the crown. 



These privileges were granted to them so long as they should con- 

 tinue in the above-mentioned offices, and were confirmed by Edward II. 

 in his second year, with this addition, that they were to be quit of all 

 manner of aids and contributions, as well as tillages, and that if at any 

 tune they should, of their own proper will, grant any aid or contribu- 

 tion, such should be levied upon them by the keepen of the exchanges 

 aforesaid, and that no other should intermeddle. The keepers them- 

 selves were in such case to be taxed by the borons of the Exchequer. 

 Letters-patent to the same effect were issued by Edward III., Richard 

 II. K.lward IV., Henry VII., Henry VIII., Edward VI., and Philip and 

 Mary. All these are referred to in the charter of incorporation which 

 was granted by Elizabeth in the first year of her reign, but those of 

 Edward I. and Edward II. alone are given at length. 



In that year Queen Elizabeth granted a charter to the worken of 

 the mint, by which important privileges were secured to them. Many 

 of these privileges were enjoyed till a recent period, but wore gradually 

 restricted, and ore now wholly abolished. In 1799, by the 39 Goo. III. 

 c. 94, the salary of the master and worker of the royal mint was fixed 

 at 30001. a-yeor, in lieu of all fees, perquisites, and emoluments, which 

 in case* of recoinage were declared to be " excessive ;" but the fees 

 were to be received as usual and paid into the Exchequer. In 1831, 

 the act of 1 & 2 Wm. IV. cap. 10 reduced the salary to 20001. a year. 

 In 1837, the 7 Wm. IV. c. 9 enacted that all fees, allowances, or 

 emoluments authorised by the indenture between the master of the 

 mint and the king, should cease altogether from April 5th in that 

 year ; that from the same date no part of the seignorage on the coinage 

 of silver or copper should be applied in any way to the expenditure of 

 the mint, but should be paid into the exchequer ; and that the treasury 

 might authorise the master of the mint to purchase bullion for 

 purposes of coinage, the means to be furnished from the consolidated 

 fund, the money received for the coin to be repaid into the exchequer, 

 and an account to be hud before parliament within ten days of the 

 commencement of the session. 



In 1848 the government appointed a commission to inquire into the 

 working of the Mint system and to suggest remedies. The report 

 presented by the commissioners showed that the system was extremely 

 complicated ; and that many of the officials, especially the refiner and 

 smelter, and the moneyen, received inordinately Urge emoluments. 

 These person* regarded themselves as a sort of close corporate body 

 with voted right*; and it was with the utmost difficulty that 

 the commissioners could obtain from them any detail* concerning their 

 profit* or receipts. The official routine at that time may shortly 

 be described thus : The master gave to the refiner and moneyen a 

 certain weight of gold and silver, and the hitter returned to him a leu 

 weight of corned money ; the difference being their salary, profit, or 

 reward for conducting the refining and coining operations. The master 

 WM, himself, always an adherent of the government for the time being ; 

 his was a political office, with a salary of 2000/. a year ; and the holder 

 interfered very little with the proceedings of the regular staff at the 

 Mint. The commissioners recommended very extensive change* to be 

 nde. When the late Mr. Shell WM Master of the Mint, in 1850, the 

 government requested him to draw up a plan of reform, based on the 

 report of the commissioner*, with such modification* a* seemed to him 

 desirable ; he did so, entering minutely into the details of the subject. 

 Mr. Sheil being soon afterward* appointed to the embassy at Florence, 

 the government acted on one of the suggestion* of the oommismon, by 

 .; a scientific person as Master of the Mint, instead of a mere 

 I adherent ; .Sir John Hencbel became master. He approved of 

 the various proposed reform* ; and an order in council in 1851 authorised 



them to be made. It was a most difficult matter to effect a compromise 

 with the anayers, refiners, moneyen, smelters, engravers, and others, 

 owing to the enormous sums which they demanded for a rclinquixlim.'nt 

 of their several privilege* ; but this was at length effected, and the new 

 system was got into working order by the beginning of 1852. Professor 

 Graham has since succeeded Sir John Herschel. All the officials at tho 

 Mint are now paid regular salaries, without any retention of the 

 vicious system of fees and perquisites ; and the master i* empowered to 

 contract for coining, to be conducted by persons not connected with 

 tin' Mint, if he thinks the public advantage can be served by so doing. 

 An arrangement was at the same time made, whereby Sir Anthony de 

 Rothschild took a lease of the government refinery at the Mint for ten 

 yean ; he is bound to refine all the gold and silver that the master 

 may send to him, within a certain maximum and minimum, at a fixed 

 price of 4*. perlb. for gold, and Gil. per Ib. for silver ; but he is per- 

 mitted to refine other bullion also on his own account ; while the 

 master is permitted to employ other refinen in addition to Sir 

 Anthony. 



There ore three matters which must be kept separate, in order to a 

 due understanding of the coinage as k a great national manufacture : 

 namely, the relations between the government, the Bank of England, 

 and the Mint ; the relation* between the master and his subordinates ; 

 and the actual manufacturing operations. Of these three we shall 

 treat in succession in a brief form. 



The Mint is bound to convert into coin, at the public expense, any 

 and all gold bullion that may be brought to it for that purpose, if 

 quite or nearly of standard fineness. Practically, the Bank of England 

 is almost the only customer to the Mint in this way, owing to certain 

 facilities which that great establishment has for managing monetary 

 affaire. The gold coins, sovereigns and half-sovereigns, arc sent back 

 to the Bank of England in exchange for tho bullion received from 

 thence. Sometimes the Bank comes into possession of gold coins of 

 various dates, countries, and standards ; these being troublesome to 

 deal with, are converted into " sterling." Bogs, containing about 700Z. 

 worth each, are taken to a refiner's in the city, and melted, each bag- 

 ful into one bar. The bars are then sent to the Mint to be assayed, 

 and in (most cases to be coined into sovereigns and half-sovereigns. 

 Tho loss by wear and tear, as well as the expense of coining, are 

 borne by an annual vote of the House of Commons. Silver and copper 

 are differently treated. The Mint officers purchase silver bullion, pure 

 copper, and old silver and copper corns, in such quantities as are 

 necessary for the purposes of trade, coin them into silver and copper 

 pieces, and sell or exchange these for gold or notes to any applicants. 



The second subject adverted to, namely, the relation existing 

 between tho master and his subordinates, or the organisation of ih.- 

 Mint under the now system, may thus be briefly described. The 

 duties undertaken by the Mint are threefold to receive, and convert 

 into coin at the public expense, all gold bullion of nearly standard 

 fineness, which may be sent thither for that purpose ; to buy silver 

 and copper, convert them into coin, and facilitate the exchange by the 

 public of gold or notes for such coin ; and to make all such coins for 

 colonial use, and such medals for the public service, as the Treasury 

 may require. To perform these duties there are several departments 

 at the Mint namely, a Mint office, for the receipt, custody, ami <leli\ery 

 of bullion and coin ; an assay department, for ascertaining the quality 

 of coin and bullion ; a melting establishment, for converting the 

 bullion into ban of the proper standard and proportions for coinage ; 

 a coining establishment, for converting the bars into coins or medals ; 

 a die establishment, for providing or obtaining the stamps, dies, 

 or engraved devices, to impress upon th icoin; and a machinery 

 department, for keeping in due order the various engines and machines 

 employed. Under the old r(yimc, the arrangements between all tho 

 persons employed were tiresomely minute and complicated ; but 'at 

 present the Mint bean more relation to an intelligible manufacturing 

 establishment. 



In ancient times extraordinary methods were resorted to in order to 

 furnish tho mint with workmen. Thus in the 81st Henry II I ., a writ 

 was i issued, authorising Heyner do Brussell to bring into England, 

 from beyond the seas, persons skilled in the coinage and exchange of 

 silver, to work in the kingdom at the king's charge. (Pat., 31 Hen. 

 III., m. 8.) And in the 25th Edw. III., Henry de Brusscll ami .Mm 

 de Cicestra, masters of the mint, were appointed by letters-patent to 

 choose and take as many goldsmiths, smiths, and other workmen in 

 the city of London and other places, where it might seem ex|>cdiont to 

 them, as should be necessary for the works of the mint in the Tower 

 of London ; and to bring the said workmen to the said Tower, Mid to 

 place them then to work at the wages allowed by tho said masters. 

 And any of them which should 1m rebellious in that case, to seize and 

 arrest, and to detain in prison within tho said Tower, and to keep in 

 safe custody until the king should determine upon their punishment. 

 These letters were directed to all sheriffs, Ac., who were commanded 

 to assist the said masten in carrying their provisions into execution. 

 (Pat, 26 Edward III., p. 2, m. 18 don.) This power to take work- 

 men, Ac., for the service of the mint was not discontinued in the 

 ri'iKii of Elizabeth. ('Indent, with LoriKoii,' 14 Elizabeth, in'Harl. 

 Mv> ..' lirit. Mu*., 698.) The custom of placing the moneyer's name 

 upon tho coins prevailed, as already observed, at a very early period in 

 this island ; indeed we find it upon the money of Ecghberht, king of 



