| Description | Dear Friend,
Mr. Williams has been with me for an hour. We scarcely named your name more than that I said I had my friend Boulton in view in order to make the most excellent coin possible. He said that nobody could have copper upon the best terms to role but those who had united; that their mills were of great value, and if that part of the general agreement was not adhered to the whole would be loose.
He told me he had mentioned to Mr. Pitt about 2d. per lb. for coining, and said he would deliver the blanks at 11d. per lb., and spoke of the coin being made so heavy as to be worth the rate of its currency. I told him I could not suppose administration would adopt that plan, and therefore that it was necessary to make an excellent coin. After much conversation I shewed him your piece of fine rolled copper; he said he would do it as perfect as that at 11d. per lb.
I asked:
what credit he would give with copper.
what part of payment he would take in copper coin to circulate in distant parts of the country at places that might be agreed on.
what discount he would expect for the expence and trouble that would attend such circulation. I mentioned casks, carriage, insurance, payment to country shopkeepers, and interest of money for the dead stock that would be the consequence.
He asked me for a piece of the copper, but I declined it at present; but if you have no objection I will give him a piece, but if you it better not, I certainly will not.
He spoke of Mr. Pitt with great familiarity, and of his making blanks for France and Holland with 2 per cent. for remedy in the former and 8/176 in the latter. He did not part with the idea of making a heavy coin. Pray let me know the highest and lowest price copper hath been at, as far as you have traced it, and what is the lowest price it can be raised for in Cornwall, and the price Mr. Williams had wrote he could sell it for, and mention the date of the highest price.
There must be a capital of at least 20,000£ employed in the copper coinage, and it must be considered as a manufacture by which reasonable profit may be made; and from Williams's conversation and the conversation of Delafield from Mr. Whitebread it's plain they only thought of being accommodated at public expence.
I am in hopes of being at home on Wednesday, for I will not have the appearance of solliciting a place or a jobb.
God bless you. I am every affectionately yours,
S. Garbett
[Edited transcript.] |