To the Honourable, the Knights, Citizens, and Burgesses, in PARLIAMENT Assembled. PROPOSALS Humbly offered, for Passing an Act to prevent Clipping and Counterfeiting of Mony.  
WHEREAS Money is the Principal Supporter, both in times of Peace and War and the only Riches, on which depends all Commerce and Trade. It hath therefore been the care of all Countries to keep their Coin as free 
The Minters have been a great cause of Clipping and false Coining.  from defects as possible. Now England hath been more grieved with Clipped and Counterfeit Money than any other Country, for want of proper Laws to prevent the same, and by the abuse of the Minters of our Money, who have made the Coin with so little Art and Ingenuity, that any may Clip or Counterfeit Money without much difficulty.  
That it may be presumed, the old Money in this Kingdom▪ is now worth two thirds 
The Value of the old Money  of the Intrinsic value; taking the large and small together▪ But if there be not a stop put to Clipping of Money, it will in a few Years be so Diminished and Counterfeited, that it will not be worth half the value it was Coined for.  
Therefore, to prevent Clipping and false Coining for the future,  
It is Humbly Proposed,  
That since it may be presumed, the old Money is worth two thirds of the Intrinsic, 
What value the Money should be when Recoyned.  it should be all called in, and Melted down, and new Coined into Milled Money of the same value it is now of, one with another, viz. Every piece so to be new Coined, to be only two thirds of the Intrinsic worth.  
If it be Objected, That to call in the Money and new Coin it, will be so great a trouble and charge to the King and Subjects, that it must not be done at this time.  
It is Humbly Answered.  
That there shall be a movable Mint that shall be placed in the middle of a County, 
How the Money shall be called in.  etc. and shall give notice to all the Parishes in the said County, to bring their Money by such a day, to be changed for new Coined Money; so having done in that County, the Mint shall move into the middle of the next, to change and Coin their Money as aforesaid, and so through the Kingdom, until all the old Money shall be Coined into Milled Mony.  
That the Mint shall first go into Cornwall, Devonshire, etc. or where the largest Money 
How the Mint stall have a Stock.  is to be found, by which means the Mint will have a Stock to change the Money as fast as it is brought to them.  
That by this Method, the Poor and Rich may change their Money with very little ttouble or charge, or fear of being Robbed, for it may be presumed that many will go together to the Mint, and will take the Poor's Money with them. And further, 
The money recoined with very little trouble or charge.  That many will make it their Employment to fetch Money from the Mint, and carry it to the adjacent Towns to change their Money, and will do it for small profit; so that the Money in the Country will be changed with very little trouble and charge, and in London with much less, for all the old Money may be thus recoined for 10000 l. Extraordinary Charge to the Mint, which is no great Expense in regard it will remove the greatest Grievances this Kingdom is afflicted with.  
If it be further Objected, That to Coin our Money less than the Intrinsic value will be a great Abuse to the Subject and a Dishonour to the Kingdom.  
It is Humbly Answered.  
That it shall not be any abuse to the Subject, for as soon as the Money is recoined, by which it will be known how much the Money wants of the Intrinsic (and Silver 
When the money shall be Coined the Intrinsic worth.  Cheap, which now is very dear) the Money shall be called in and Coined up to the Intrinsic: This Recoyning being done, only at present to stop the Currant of Clipping and false Coining, which is now so much Practised, that it is probable they Clip and Coin 500000 l. per ann. So that if an Act should be made to call in the Money, and Coin it up to the Intrinsic worth, it would be so long about, that the Kingdom would lose 
The Kingdom will lose greatly by any other method but this.  at least two Million of Money by Clipping and false Coining of money before it could be done; Whereas, what is here Proposed, may be done in one Year, and then there may be a small Tax afterwards laid for calling the Money in, to Coin it up to the Intrinsic, 
The Money may be called in afterwards with little trouble.  which may be done by degrees; so that it will be no trouble to the Subject at all, after this first calling in of the Mony.  
That it cannot be any Dishonour to the Kingdom, to Coin our Money less than the 
This methed no dishonour to England.  Intrinsic, since we do not do it for profit, but to prevent a Treasonable Practice crept in amongst us.  
If it be yet Objected, That to Coin our Money less than the Intrinsic worth, will be a hindrance to Trade▪ for that all Merchants are obliged to pay the Intrinsic worth for their Goods they Buy beyond Sea, and so they will want Intrinsic Money for that use.  
It is Humbly Answered,  
That it doth not appear in Holland, France, Portugal, etc. That their Money, altho' it 
Money so Coined will be no hindrance to Trade  be less than the Intrinsic, is any hindrance to Trade, nor hath there been any such Effect here in England, since our Money hath been reduced so invaluable by Clipping, and it is directly against the Law to Transport our Money; besides it is the constitution of the Laws of England that all Debts shall be paid in Currant and Lawful Money of England, and any Money is Lawful that the King and Parliament please to make so.  
If it be Objected, That the Masters of the Mint will Coin Bullion into this Money, and so abuse the Kingdom.  
It is Hambly Answered,  
That it may be made High-Treason to Coin and Bullion, but such only as is old 
The Minters cannot Coin more than allowed by Law.  Money melted down, and the Office may be so Ordered, that it shall be impossible for the Minters to act the same Cheat.  
If it be Objected, That if Money be Coined less than the Intrinsic worth, they will Coin Money beyond Sea and send it here.  
It is Humbly Answered,  
That no Foreign State or Government will allow of Counterfeiting our Money, and 
They cannot Sergeant our Money beyond Sea.  if it be Coined as shall hereafter be Proposed, it will be impossible for any private Person to do it, without being discovered; Besides, it is High-Treason to bring any Counterfeit Money into England, and we have not observed any have done it lately, altho' there would be great profit in it.  
If it be Objected, That if Money be Coined less than the Intrinsic worth, it will be much Counterfeited, for that they may make it of good Silver, and get great profit thereby.  
It is Humbly Answered,  
That all Coining is done by Casting or Stamping.  
To prevent Conterfeiting of Money by Casting it. The Money should be thicker and narrower than now it is made, and it should be Milled with a Hollow or Grove, and then it would be impossible to Counterfeit it by Casting.  
To prevent Counterfeiting of Money by Stamping it. The Heads, Letters, and Arms, should not be Graved, but cut upon Counter-Punches, and so Curiously done, that there should be but few in the Kingdom could do it so well, and rise up so high, that the Money could not be Stamped, but with an Engine, and other Tools that must weigh 
Impossible for a private Person to Counterfeit Mony.  near a Tun weight, and then it would be impossible for any private Person to Counterfeit Money without being discovered; but now the Money, being such bad Workmanship, every Smith, Clock-maker, Brasier, Goldsmith, etc. can Grave Stamps, and the Work being so flat and irregular, they can Stamp Money with a Hammer of three pound weight, which is a great grievance to the Kingdom, to have our Money Coined so disingeniously, that it may be Counterfeited with so much ease and privacy.  
That if this Honourable House will be pleased to Order the Proposer hereof to attend your Honours, he will bring some Exemplary Pieces, by which he presumes he can Demonstrate 
Examples to prove that money cannot be Counterfeited.  that Money may be Coined so, that it shall be impossible for any private Person to Counterfeit it; and will Humbly inform your Honours more at large of the defects of the late Money, and how in the Coining of it anew, it may be prevented.  

REASONS Humbly offered, to prove that Coining our Money the Intrinsic worth, is a great charge to the King, a grievance to the Subject, and an impoverishment to the Nation.  
1. THE Standard of our Coin is 11 ounces 2 penny weight fine Silver or Gold, and 
The Standard of our money.  18 penny weight of Alloy.  
2. That the Minters have agreed, that Silver of the said Standard shall be accounted 
The Price of Bullion.  worth 5s. 3d. per ounce, and that the Money shall be Coined of such a weight, that at the said 5s. 3d. per ounce, every piece shall be the Intrinsic worth it is Coined for.  
3. That Silver of the said Standard is sometimes worth 5s. 1d. and at other times 5s. 6d. 
Silver sometimes dear.  per ounce.  
4. That when the Silver is 5s. 1d. per ounce, the Merchant Coins his Silver and gains above 
Merchants get great profit by Coining.  3l. per cent. by it, but when Bullion is 5s. 6d. per ounce either here or abroad, they melt down the Coin, and gain above 4l. per cent. by it; And so the King is at a great charge in Coining Money, which proves no advantage to the public, but for the Interest of some private Persons, and likewise encourages Transporting our money.  
5. That there is yet a further Gain the Merchants have by Coining Money, viz. when the 
The Kingdom much abused by Coining.  Gold or Silver is Coined, to weigh all the money, and that which is over weight to melt down and send it to be Coined again, and that which is to light, to let it pass for currant money, and thus a Person having 2000l. in Silver and Gold, may get near 500l. per ann. by Coining money and more, when in favour with the Minters, so that they may not be severe with the Labourers of the Mint in Sizeing the money.  
6. That our money being the full value, and of the same Standard Silver Plate is made of, 
Our Coin is melted down to make Plate of.  our Coin is melted down and made into Plate.  
Therefore, that the King may not be at unnecessary charge in Coining money, and to prevent our money from being melted down, Transported, etc.  
It is Humbly Proposed,  
That whereas our money is now Coined the Intrinsic value, when Silver is at 5s. 3d. per ounce, but Silver being sometimes at 5s. 1d. and other times at 5s. 6d. per ounce, the said different 
The different prices of Bullion is grievous.  prices makes our money sometimes under, and at other times above the Intrinsic worth it is Coined for; the effect of which is the cause of the grievances aforesaid: Therefore, the money should be Coined the intrinsic worth of Silver, at 5s. 6d. per ounce, and of Gold 4l. 2s per ounce.  
That when Silver is cheaper than 5s. 6d. per ounce and the Gold under 4l. 2s. per ounce 
The King should have the profit of Coining.  the King shall have the profit that arises by Coining of it.  
That the King shall allow for Silver or Gold what Interest shall be thought fit according to the price thereof, to Encourage the Merchant to bring Bullion to be Coined.  
That to prevent the Goldsmith's melting down the Coin to make Plate of it.  
It is Humbly Proposed,  
That the money should have 3 penny weight of Alloy more in the Pound then the Standard 
The Coin should be of a new Standard.  of Silver Plate hath in it, which would effectually prevent the said Practice, for when any Silver Plate is offered to be Marked, being not of the aforesaid Standard, it is broke in pieces, and to make the money the same Standard, by adding fine Silver to it, would be so much trouble and charge, that it will neither be practicable nor profitable to melt down the Coin to make Plate of it.   

PROPOSALS Further Humbly offered, for Passing an Act to prevent Counterfeiting of Money, and for the better discovering Offenders therein.  
WHereas Counterfeiting of money is very much Practised, to the great abuse of His Majesty and Subjects, for want of a method to prevent and discover the Persons offending therein.  
And whereas the Coiners do Principally make use of Sheers, Flatting Mills, and Flasts, without which Tools, it would be impossible for them to Counterfeit the said Coin, for all Coining is done, either by Casting or Stamping it, Casting is done by the use of Flasts, and Stamping money i● Principally done by the use of Flatting Mills and Sheers, viz.  
By the use of Flasts they Coin money by casting it in Sand, some is made of good Silver and 
How Coining is done.  is very currant, And by the littleness of it, they get 40ls. per cent. and in a Days time one Man can make 100l. And it being lawful for them to keep such Tools, in the Night, and other convenient times, they Coin and afterwards break the Moulds; and the money being good Silver, it is difficult to discover them.  
By the use of the Flatting Mills, the Coiners of money do Flat Silver, which they afterwards Stamp, and with the Shears cut it into money.  
Therefore to prevent their having such Tools to Coin withal;  
It is Humbly Proposed,  
There should be a peculiar Seal or Mark put upon all such Tools,  
That no Person shall keep, sell, or dispose of any Shears, Flatting-Mills or Flasts, but to such 
None shall keep Tools that are used in Coining.  only as have a Certificate from the Keeper of the said Seal, to certify that they are Goldsmiths, Tin-men, Braziers, etc. that do use such Tools in their honest and lawful Employments.  
That they shall not obtain this Certificate, unless they bring from under the Hands of two of the Masters of the Parish they then live in, or such like Testimony, that they are of such Trades as do necessarily use such Tools in their lawful Employments.  
But if it be Objected, That this method will be a Restraint to Trade, or a trouble and charge to the Honest Subjects;  
It is Humbly Answered,  
That no one Goldsmith, Tin-man, Brasier, etc. does use above one or two pair of Sheers, etc. 
Very little trouble or charge to the Subject.  in seven Years, and Two Pence for Setting each Seal, and sixpence for each Certificate, will defray the charges the Keeper of the Seal will be at, which is but a small trouble and charge, when a Man first Sets up his Trade, or being once or twice in seven Years; But the Coiners use great quantities of these Shears, Flasts, etc.  
If it be yet Objected, That then the Coiners will Employ Goldsmiths, Tin-men, Braziers, etc. to procure Shears, Flasts, etc. for them.  
It is Humbly Answered.  
To prevent that, there must be kept Books of Record, of those that have bought Sheers, Flasts, etc. and if they offer to Buy more than two or three pair in seven Years, they shall 
To prevent Goldsmiths. etc.  be questioned, and suspected to be Coyers.  
If it be further Objected, That they will get private Smiths to make Shears, Flatting-Mills, etc. or procure them out of the Country:  
It is Humbly Answered.  
These Shears, Flatting-Mills, etc. are a curious piece of Work: So none but those, whose Trade chiefly it is, can make them▪ and there are not above Eight or Ten that make them 
To prevent Smiths.  in London, and but Three or Four in Sheffeild and Burmingham: All which easily may be observed by the Keeper and his Deputies all over England, whether they make any for the Use of Coiners or not.  

To prevent Thiefs. Clippers and Coiners selling melted Silxer.  That to detect Thiefs, as well as prevent Clippers and Coiners, buying or selling melted Silver, no Person shall buy, sell, or receive any melted Silver, but such only as have a Certificate from the Keeper of the said Seal, and to be obtained as aforesaid, to certify they are Goldsmiths, Refiners, etc. and do use melted Silver in their lawful Employments.  

To prevent Transporting of Bullion.  That by this method, no Person can deal or Trade in melted Silver, but such only as use Silver in their lawful Employments, which will in a great measure prevent Transporting of Bullion  
That there are several Precedents by Act of Parliament, for this way of Sealing or Marking, which proves very effectual in preventing Cheats in Plate, Leather, Cloth, etc. For were it not for the Seal put upon Silver Plate, called, the Hall Mark, there would be as much false Siver as there is false money, for if any false Plate be brought to be Marked, it is immediately broke in pieces, and if any ill Tanned Leather is offered to be Sealed, or good Leather sold 
Precedents for this method.  unmarked, it is all Forfeited, etc. In which, Sealing, and Marking, they find no great trouble, although it is used in their whole Trade: This being but upon three peculiar Tools, and but a few of them used in seven Years time; so that it will be but little trouble to the Subject.  
That March the 5th. 1692. the Masters of the Mint, ordered the Proposer hereof to draw 
Orders of the Masters of the Mint.  up a method that would prevent Clipping and Counterfeiting of money: He therefore drew up these Proposals, and sent them to the Warden of the Mint, who laid them before the Honourable the Lord's Commissioners of His Majesty's Treasury, and their Lordships were pleased to Refer the same to the Attorney General, now Lord Keeper of the Great Seal of England. And that all the Persons aforesaid, with most of the Company of Goldsmiths and Ironmongers have highly approved hereof, Concluding these to be the most effectual means to suppress all Offences of this Nature, and prevent such abuses for the future.  
From Eagle-Street in Red-Lyon-Fields, Feb. 11th. 1694. William Chaloner.