Money and Money ers. 417 



sundry malpractices which they had discovered to exist in the 

 Mint. It does not appear, however, that any bill was brought 

 in, or that any material alteration or improvement followed the 

 presentation of the report. 



In 1706 the following change took place in reference to 

 the Corporation of Moneyers, as they loved to style them- 

 selves. They were allotted certain small salaries when the 

 coinage in one year did not reach a certain amount. Hitherto, 

 they had not been considered to be in the position of " stand- 

 ing officers" of the Mint, but more in that of workmen re- 

 ceiving piece wages when at work. The history of this altera- 

 tion, which remained in force up to the period of the dissolution 

 of the Company, may be briefly given : — The " Corporation," 

 in 1698, had petitioned the Treasury to the effect, " that by 

 reason of the work falling off so much of late years, they had 

 become poor and so much in debt, that they must be ruined 

 without some consideration were had for them." Again, in the 

 reign of Queen Anne a similar claim was presented; and at 

 length a Treasury order awarded the money ers £25 each [per 

 annum when the coinage in any one year should not reach the 

 value of £500,000. Afterwards, in 1743, this allowance was 

 increased to £40 per annum, under like conditions. 



Probably the most important change made during the 

 eighteenth century in the practical management of the Mint, 

 was the total cessation of the mint-master's practical functions, 

 and his gradual transition from a permanent practical head- 

 officer, having personal knowledge of the process of minting, 

 to a salaried officer of rank, having frequently no knowledge 

 whatever of the process of minting, and quitting his office with 

 every change of ministry. This absurd and mischievous system 

 remained in force till 1848, when the Russell ministry abolished 

 it by the appointment, for life, of Sir John HerscheL The re- 

 coinage of the gold currency of the kingdom, in 1774, effected 

 a considerable improvement in the status of the Company of 

 Moneyers. The number of persons comprising it had been 

 reduced at the instance of the Government, when awarding 

 them subsistence-money; and the consequence of the re- 

 coinage of gold was, that large profits were shared by compara- 

 tively few persons. They were thus raised to affluence, and the 

 tone of their communications varied accordingly. In 1780 an 

 attempt was made to abolish the Mint altogether, and to place 

 the coinage in the hands of the directors of the Bank. This, 

 in fact, was the avowed intention of Mr. Burke's famous bill 

 for economical reform. It set forth " that the Mint is expensive, 

 and that the coinage ought to be none or little expense to the 

 nation ; therefore, it is enacted, that the office of the Mint shall 

 be abolished." There were clauses for paying salaries to the 



