| Description | (Franked at London in the name of Paul Le Mesurier, 4 Sep.)
[The new impressions for the Copper Coins are not so well approved of as the old were. Why change? It is said the new Border, though handsome for Buttons, will only serve to collect dirt, and no one has seen a Copper coin, old or new, with a Border. The Company propose to coin 20,000 ozs. of silver into fractional parts of a Dollar, and the prices and arrangements you mention would be approved. You state the weight of a new Dollar is 417 grains, and 1/8 Dollar 52 grains. If the Company gives 8 pieces of 52 grains in exchange for a Dollar, the Coinage will be a loss to the Company. It is intended neither to gain or lose, consequently the weight of each piece should be reduced according to the cost of coining it. The fineness must be strictly adhered to. It is immaterial whether it bears the Company’s Mark or the Arms. The Inscription to explain the value of the pieces must be settled with Mr. Marsden. You know I am to quite the Direction in April and I doubt whether my successor will take any trouble about the Coinage. You will do well not to write to Wissett about the Silver Coinage. The senior Directors say the Coinage belongs to the Committee of Treasury and not to the Committee of Warehouses: of course they wish to put the Silver under the direction of Mr. Harris the Treasurer and the Copper may remain with Wissett. Our ships will get away early and I conclude the whole should be shipped very early in January.] |