THE Mine-Adventure; OR, AN EXPEDIENT, 

First, For Composing all Differences between the Partners of the Mines late of Sir Carbery covetise.  
Secondly, For Establishing a new Method for the Management thereof, and thereby( instead of an Arbitrary Power over the Mines and Stock of all the Partners in one Person) settling an equal and fair Constitution for every Person concerned.  
Thirdly, For Granting several Charities out of the same to the Poor of every County in England and Wales, without Prejudice to the Partners.  
Fourthly, For Enabling the Partners to Employ a much greater Stock therein, and consequently( in the same proportion) to advance the Gain and Profits thereof.  
Fifthly, For Discharging all Debts, Duties, and Demands chargeable upon the said Mines, Originally occasioned by several Expensive Law-Suits between the said Sir Carbery covetise and the Patentees of Royal Mines.  
AND, Sixthly, For raising a large Stock of 20000 l.( clear of all manner of encumbrances) for the working and carrying on the said Mineral Works, to the great Advantage of the King and Kingdom.    
Proposed by Sir Humphrey Mackworth, Perused and Settled by Eminent and Learned Council in the Law, and finally Established in Two Indentures, made and executed by the present Partners, and which shall be In●●lled in the High Court of Chancery.  
LONDON: Printed by Freeman Collins, in the Old-Baily, 1698.   

A DESCRIPTION of the Silver, led and Copper Mines, late of Sir Carbery covetise, lying in Cardiganshire, within four Miles of the Navigable River Dovey, and from thence a Mile by Water to the Port of Aberdovey, where Vessels of Three or Four hundred tons may ride with great Safety.  

See the Book entitled, An Essay on the Value of the Mines, late of Sir Carbery covetise, by William Waller Gent. chief Steward of the said Mines.   stratigraphic map of the mine, labeled with letters which correspond to the following list  

a The North-Vein of Lead-Oar, three Foot wide.  
b The great Lead-Vein, eleven Foot wide.  
c A Vein of Lead-Oar six Foot wide.  
e A Vein of Lead-Oar three Foot wide.  
f A Vein of Green-Copper-Oar, four Foot wide, and yields Three Tun of Copper from Twenty Tun of Oar.  
g The Bog-Vein, four Foot wide, all Potters Oar.  
h The across Vein of Lead-Oar, three Foot wide.  
i The across Vein of Brown Copper-Oar, five Foot wide, and yields five Tun of Copper out of twenty Tun of Oar.  
k The first great Shaft and Western Boundary.  
l The East Level 64 yards deep.  
m The Eastern Boundary.  
t t t The places where the across Veins meet with the other Veins; which are called by Miners, the ( T) of the Veins, and are accounted the richest part of them.  
o The West Level 64 yards deep.   
Note, All the said Veins are fixed and settled betwixt firm and solid Sides, and rise equally near to the Surface of the Ground; and all( except the across Veins) lie parallel to the great Vein, descending downward like the Mine of Potozi; but being many in Number, and crossing each other could not be better described together on Paper,  
The Scale for the Length four hundred Yards in an Inch; and for the Height of the Mountain eighty Yards in an Inch; and for the Distance between the Veins forty Yards in an Inch.  

Eight Veins together.  And thus you see that there are Eight large Veins of Silver, led, and Copper Oar lying near together in one Mountain, which, it's presumed, cannot be paralleled in any part of the Christian World.  
And whereas 'tis not unusual to lay out Five, Six, or Seven thousand pounds to make a Level, Adit, or Sough to Drain the Wate● from one small Vein of Lead-Oar of two or three Foot thick, here a far le●s Sum of Money will finish both the East and West Levels above-mentioned, 
One Level serves for six Veins.  Sixty four yards deep, which, with a small across Drift or Cut, will drain the Water from all, or most of these Veins at the same time, the least of which is three Foot wide betwixt its firm sides. This Conveniency will be valued at a very high Rate by all Persons experienced in the Art of Mining. 
☞   
But as to the Value of these Mines, 
The value of the Mines demonstrated by William Waller, Gent. Steward.  it may be observed from a Book, entitled, An Essay on the Value of the Mines late of Sir Carbery covetise, and writ for the private Satisfaction of the Partners, by William Waller Gent. the present Steward thereof,( who is an Ingenious, Approved, and experienced Artist in the management of Mineral Works, and a Person of a clear, unspotted Reputation, and of no mean Circumstances in the World) to what a prodigious Value these Mines might be advanced by a large Stock and prudent Management.  
And what an advantageous Bargain the Partners had in 1693. 
The Advantage the Partners had in 1693. lost by differences amongst themselves.  when they bought at 17 l. per share, in Case they had not fallen into unhappy Differences amongst themselves, but had agreed to raise a Competent Stock, and to carry on the Works to the best Advantage.  
But( besides the Arguments in that book, to which the Reader is referred) it may he farther offered to the Consideration of all Persons experienced in the Art of Mining, 
That the Mines are better worth 50 l. per share at this day, then 17 l. per share in 1693.  and acquainted with the Circumstances of these Mines in the Year 1693. Whether the said Partners shares may not, with good reason, be computed to be better worth 50 l. per share at this day( with all the Grants and other Advantages in the new Settlements of this Expedient) than they were worth 17 l. per share in the Year 1693? 
Reasons offered,  For then the Shares were valued and bought upon the Credit of one Vein only,( the richness of the five other led Veins, or the two Copper Veins, bein then not at all discovered, and consequently not in the least considered in the Purchase) whereas now here is five led Veins more, 
First. From the New Discoveries.  valued by the Steward at 60000 l. per Annum, and two Copper Veins valued at 36000 l. per Annum, and which yield malleable Copper in the first running; and being large Veins, and very rich in Copper, may at the Level, which is 64 Yards deep, grow to be of equal value with all the led,( this being sold at 10 l. per Tun, and Copper at 100 l. per Tun) or thereabouts.  
2dly, Then their Adits, Levels, Soughs and Air-shafts were not begun; 
By having, Levils, Adits, and Shafts.  now the East-Level is brought home within Twenty or Thirty Yards of the Mine, and the West-Level is carried up Two hundred and ten yards in length, and many Air-Shafts are sunk, which is a vast Advantage.  
3dly, Then they had no Smelting-Houses, Cupulo's, 
By having Smelting-houses, &c. ready built.  nor Store-Houses, or other Buildings necessary for the carrying on the said Works; but now they have Smelting-Houses, &c. ready for Employment.  
4thly, Then the Mines were charged with great Debts, Salaries, 
By being discharged of all Debts, &c.  and Payments; but hereby they are discharged from all manner of encumbrances.  
5thly, Then the Partners were unexperienced in the Management of Mineral Works; but now they have gained five Years experience: 
By having five years experience.  and the Profits of such Works depend much upon the Method and Conduct of the Managers.  
6thly, Then their Constitutions were Arbitrary; 
By having a better Constitution.  but now fair and equal for every Person concerned: And this Advantage the Partners value at a high rate; who know the Difficulties they laboured under before, for want of it.  
7thly, Then the Partners wanted divers Liberties and privileges, 
By a grant of new Liberties; and being thereby enabled to employ a greater stock.  whereby they were both discouraged from raising a large Stock, and deprived of an Opportunity of Employing of it in the Works, when raised. But now all those Liberties are not only granted to them to enable them to employ five times the Stock and Number of Men, but even the raising of the Stock itself is part of the Expedient.  
And 'tis presumed that it is well known to the World, 
The greater the stock, the greater the profit.  in the Case of Mineral Works, that if the Proprietors can raise and employ a greater Stock therein, they will proportionably advance the Gain and Profit thereof; so that if they double the Stock they double the Profit, 
See Mr. Waller's Essay, pag. 41, 44, 45.  and so by Consequence, if they can raise and employ five times the Stock, they will have and receive five times the Profit; for their Gains are greater or less in proportion to the number of Hands they employ; and the number of Hands are greater or less in proportion to the Stock. As for Example; 
An Example.  Suppose every Workman to get half a Tun of Oar in the Week, which when made into led, will yield a clear Profit to the Owners of Two pound seven shillings, as is proved in the said printed Essay, pag. 8, 9. and was actually done at one of these Mines, which at Fifty Weeks, amounts to Twenty five Tun of Oar, and to One hundred and seventeen pounds ten shillings per Annum: And suppose a Stock of Four thousand pounds would employ One hundred and twenty Men, who at the same rate will raise Three thousand Tun of Oar, which amounts to Fourteen thousand and one hundred pounds per Annum: If you double your Stock, and consequently employ Two hundred and forty Men, your Profit will be double, viz. Twenty eight thousand and two hundred pounds per Annum; and by the same reason, if you raise a Stock of Twenty thousand pounds, which is five times Four thousand pounds( the Stock in 1693. 
Note, The stock in 1693. was employed as a dead Stock in making Levels, Smelting Houses, &c. ) and thereby employ Six hundred Men( which is five times One hundred and twenty) your Gain will be five times as great, viz. Seventy thousand and five hundred pounds per Annum; and so on proportionable to the Stock and Number of Men you can employ in these Mines.  
But to prove that a much greater Number of Men may now be employed in these Mines, 
Note, That a great number of men may be employed without danger of the Mines being exhausted.  when the Levels are brought home, and the Works set in order, without danger of the Mines being exhausted. See the said printed Essay; whereby it appears( amongst several others) that at Keswick in Cumberland was employed Four thousand Men in one Vein, and at a small Vein Two foot wide in Arkindale in Yorkshire, Six hundred Men; and that the Mine of Potozi( six foot wide) hath lasted above One hundred and fifty years with Twenty thousand Men; and the Mines of Cremnits in Germany Nine hundred and fifty Years. And at Coomsumblock, a Silver Mine in Cardiganshire, a small Vein not Two foot wide, Four hundred Men were employed by the Patentees of Royal Mines for many years, and by the help of a Water Engine, may be employed again to great Profit.  

And by having a Term better in Profit by three years than the former.  8thly and lastly, In 1693. they could not work for Profit till the Levels were made, and in the carrying up the Levels there could not be employed more Men then was, so that Three years was of necessity to be lost in Dead-work, which reduced the Original Term for Profit, from Twenty two to Nineteen years, or thereabouts; whereas now they will have a complete Term of Twenty two years, which( with these Levels &c.) is Three years better in real Profit then the Original Term; so that in effect the Partners have the Advantages of a Term of Twenty five years, instead of Two and twenty years: And these Three last years by reason of increasing and multiplying of Hands every year, may be worth as much as Six years in the beginning of the Term.  

All these advantages being very great.  All which Advantages being seriously considered, and put together, cannot but have their due weight by all those who are experienced in the Management of Mineral Works.  

Least the World should be surprised with so advantageous an offer, Sir H. M. first opens.  And here it might reasonably be expected that Sir H. M. should begin to open his Expedient— But because it cannot be imagined but that the World will be surprised to see so rich a Treasure offered to them upon such easy and advantageous Terms as are herein after mentioned, it may not be improper to open first the true Reason that induced Sir H. M. to propose, and the Partners to comply with this Undertaking; which was as followeth ( viz.)  
Sir Carbery covetise having several Law-Suits with the Patentees of Royal Mines, and having expended considerable Sums of Money therein, 
The Reasons which induced the Partners to comply with this Expedient.  and not being able to carry on the said Mineral Works to the best Advantage without some Assistance, thought fit to take in several Partners, who afterwards sold some Shares for Seventeen pounds per Share, and covenanted to discharge the Mines from all encumbrances, and out of the Purchase Money to pay the Sum of Four thousand and eight pounds for a dead Stock, to carry up the Levels, sink Air Shafts, and build Smelting Houses, &c.  
But these things not being fully performed, Differences did arise between the Old and New Partners, the Officers, Stewards, and Miners were left unpaid, and most of them forced to leave the Works. The Partners employed several Persons of Skill and judgement to view the Mines; all of them reported that the Mines were extraordinary Rich, and wanted nothing but Men and Money to make them Answer their utmost Expectation.  
Thereupon Consultations were held about raising a Quick Stock; but upon Examination of their Deeds and Writings, there appeared some Defects. And amongst several others,  

First, To enable them to employ a large Stock, they wanted farther Liberties to be granted to them.  
Secondly, They wanted their term to be renewed.  
Thirdly, They wanted a better Constitution.   
For Sir Carbery covetise, and after him Mr. Edward covetise, having a Majority of Votes in themselves, had an Absolute and Arbitrary Power over the Mines and Stock of all the Partners, whereupon they declined the raising of a Stock till those and other Matters could be redressed.  
But instead of an Accommodation, the Treaties produced greater Differences, till at last the Scene was changed; and Sir H. M. having purchased for himself and Friends the Interest and Shares of Sir Carbery covetise and Mr. Edward covetise, tho' he bought the same for a valuable Consideration, yet he freely offered to the Partners all, and more then ever was desired by them, provided they would comply with such reasonable Things as should be proposed for the Common Good.  
Whereupon the Partners, at a General Meeting, 
And the Reasons which induced Sir H.M. to propose this Expedient.  were pleased to refer all Differences to his Consideration: And the said Sir H.M. upon Examination, meeting with greater Difficullies then he imagined; and finding Matters very intricate, and that it was impracticable to compose their Differences, or to raise a Stock in any ordinary and usual way, and having several times declared the same at the General Meetings of the Partners, several Proposals were made and offered to their Consideration.  
The Ways proposed and offered were, 
Several ways proposed for raising a Stock.   

First, To raise a Stock of Twenty thousand pounds by an Assessment of 5 l. per Share, to be paid in ready Money.  
Secondly, By increasing the Number of Shares, and taking in more Partners. Or,  
Thirdly, By paying a Premium to such Partners, or others, who would advance the Stock on the Credit of the Mines.   
But none of these Ways did agree with the Circumstances the Partners were in, nor would answer the Difficulties they laboured under. 
Not approved.   

And for what Reasons.  For some of them wanted ready Money to comply with the first; others( complaining that the number of Partners and Shares was too great already) did not approve of the Second.  
And it was agreed by most, that the third way was of such a Nature, as by Mortgaging and encumbering the Mines( and consequently drawing the Partners into long Accounts in Chancery, and by engaging them to admit of a Management by particular and private Persons, whose Interest would be distinct from the Common Good of the Partners) would put them in as bad a Condition as they were before. And by none of these Ways any Provision was made for clearing the Debts, 
☞  or reconciling the Differences, which was absolutely necessary to be done.  

What kind of Proposal was to be made to please all Parties.  And therefore, in order to carry on the said Mines to the best Advantage, and unite all the different Interests amongst the Partners, some other way was to be thought of in this Case, whereby the Partners, and all Adventurers might be secure and free from Hazard; the Assessment of 5 l. per Share avoided; the number of Partners rather lessened than increased; the Mines discharged from all manner of Debts and encumbrances; all Differences accommodated; no Premiums; no Mortgages; no Law-Suits; no Arbitrary Power, nor any Person of a distinct Interest to interfere in their Management; but that the Parties concerned should raise their own Stock, by An Expedient safe and easy, and have the entire Management of the Mines themselves, under a-fair and equal Constitution.  

The Necessity which obliged Sir H. M. to propose this Expedient.  Whereupon Sir H. M.( though a Person utterly unacquainted with Matters of this Nature, and very unfit for such an Undertaking) yet in a Case of Absolute Necessity, and rather than suffer so rich a Treasure to lie dead and unwrought, to the great Prejudice of himself and Partners, and Loss to the whole Nation; and perceiving that no other Proposal would prevail to Unite so many different Interests) thought fit to acquaint the Partners, that in case all Differences might be composed, and the Mines transferred into Trustees Hands for that purpose, he would propose and open to them an EXPEDIENT for clearing all the Debts wherewith the Mines then stood charged; and for raising the Sum of Twenty thousand pounds for a Stock for carrying on the working of the said Mines, without any Premium or Repayment of either Principal or Interest, and for paying and securing to such of the said Partners as should be unwilling to become Adventurers with the said Sir H. M. under such Proposals as he should make the Sum of 20 l. for every Share they respectively had in the said Mines.  

An Apology for making one so common,  And if all this can be accomplished by a proper and seasonable Application of an Expedient adapted to this particular Case, tho' grown ever so common and ordinary in its use and practise; if a dangerous and fatal Distemper can be cured by an ordinary and safe Remedy, mixed with other proper Ingredients, 'tis presumed that neither the Expedient, nor the Remedy, will be rejected for that Reason, by any prudent Person, when the Circumstances of the Case will admit of no other.  

because no other would serve.  The following Expedient therefore being necessary, and the only Means left to disentangle the Mines, to raise a Stock, and to settle the Parties concerned upon a better Foundation.  

What value to be set on the Mines.  The next thing to be considered, in order thereunto, is the present value to be set upon the Mines in this New Undertaking.  

That 15000 Tun of Oar may be raised out of one Vein.  For Mr. Waller in his Essay seems to have proved( even to demonstration) that 15000 Tun of Oar may be raised with 600 Men out of the Great Vein alone,( when at the Mine of Potozi, six foot wide, they raise 256250 tons of Oar every Year) and when at the ordinary and lesser Veins in the North so many Men have been employed; Nay when he himself hath raised Four thousand pounds worth of Oar, 
☜  and employed Fifty four Men in Ten yards space in one of these Veins, Twenty of which Distances will employ above 1000 Men. And 'tis plain that a proportionable number of Men may be employed in all the other Veins, both led and Copper.  
From all which it appears( by Calculation) that these Mines, may, 
The great annual value of these Mines.  with a large Stock, and in a few Years, be advanced to an incredible Profit, even to 171972 l. 19 s. 9 d. per Annum, as by the said Essay( to which the Reader is referred) may appear.  
Yet Sir H. M. considering on one side, 
Reasons for setting the same at a much lower value in this Adventure.  that the Advantages of an Undertaking ought to be reserved for those who continue to Adventure in the Mines for the public Good, and not for those who go out and leave the Society. And on the other side, being entirely convinced of the great value of these Mines, and not thinking it either just or honourable to take Advantage of the Necessities of others, or of those accidental Discouragements they have hitherto met withal, hath thought fit to put the Mines( in this Adventure) at as reasonable a value as possibly they could be, to answer the present Necessities, and to establish a small Charity; and also to pay off those Partners whose Circumstances may oblige them to relinquish this Undertaking.  
That as he is convinced that no Person hereafter, under the present Settlement and Constitution, can( in all human probability) be deprived of great Advantages by this Undertaking; so he is not willing that these Mines( which are so able to pay their own Debts) should lie under the Scandal and Curse of having done a Prejudice for the time past to any Person whatsoever.  
These Mines therefore are, for the present establishment thereof, 
Viz. at 12500 l. per Annum, which is less than a twelfth part of the real value proved in the said Essay.  valued in this Adventure at the rate of Twelve thousand five hundred pounds per Annum, and no more, which the least of these eight Veins, with a large Stock, may very reasonably be supposed to Answer, when the Works of my Lord Darwenwater in Auston-Moor in Cumberland( Thirty Miles from the Sea) and about Three foot wide, yielded 12000 l. per Annum for a fifth Duty, not many years before the late War.  
And the raising of no more but 3000 Tun of Lead-Oar a year out of all these mighty Veins, besides the Copper and Silver, 
3000 Tun of Oar answers this valuation.  will more then answer this Valuation, which at Ten years Purchase for Twenty two years, 
Twenty thousand pounds reserved for a Stock.  amounts to 125000 l. whereof 20000 l. is reserved as a Stock for the effectual carrying on the said Mineral Works.  
The Method of this Adventure follows the President of the Million Adventure at large, and in the very words thereof, 
The Method of this Adventure.  with some few particular Additions adapted to this particular Case, for the Security and Advantage of every Person concerned.  This ADVENTURE will be PROFITABLE to the Fortunate, 
The Advantages thereof,  advantageous for the public Good, CHARITABLE to the Poor, and cannot be UNPROFITABLE to any Person whatsoever. 
For hereby the Fortunate will not only Purchase the richest Treasure of this kind in these three Kingdoms, 
Demonstrated.  and thereby gain vast Estates to themselves, with the Aid of other Persons Money, and at a cheap Rate and Value. But, both the Fortunate and Unfortunate are Secured, upon on a safe Fund, to have all their Money( both Principal and Interest) fully paid back to them, without the least Abatement, Cost or Charge whatsoever; and not without hopes of 800 l. per Cent. Profit.  
And hereby his Majesties Customs, and the Trade and Wealth of England, will not only be advanced by the Commodities and Manufactures of our own Country, and thereby the Exportation of our Coin and Bullion in great measure prevented. But the Poor that are unable will be Relieved; and those that are able will have Work provided for them. See the Settlements at large.  

The Trustees and Managers.  THE Trustees in the said Settlement, and Managers for the said Adventure( assisted by two public Notaries on Oath) who are pleased to take upon them the Trouble of seeing all things duly performed according to the said Settlements, are the present Trustees, Sir Joseph hernia, Sir William Hedges, Sir Thomas Vernon, Thomas Pit Esq; one of the Masters in Chancery; and Sir William Ashhurst, Sir John Hubland, Sir James Hubland, Sir Francis Child, Sir Thomas Cuddon, and Sir Robert Bedingfield.  
The Receivers 
The Receivers.  are Sir Francis Child, Sir John Johnson, Mr. Robert Fowle, Mr. Richard Hoare, Mr. William Atwill, Mr. James Hallet, Mr. Thomas Mynshall, Mr. Richard Smith, Mr. Peter Lupart, Mr. John Llund, and Mr. Coggs of London, Goldsmiths; and such other Person and Persons as shall be appointed by the said Sir Humphrey Mackworth.  
The manner of Raising this Money, as in the said Settlement directed, is, That 125000 Tickets be delivered out at 20 s. a Ticket, whereof 2500 are to be Fortunate Tickets: And  
That the said 4008 Shares of the said Mines be divided thus: 
To the first Number drawn, besides the Benefit may come up with it—  Fortunate Tickets 10 shares— valued at 400 l. yearly. 1 of 50 shares— valued at 2000 yearly. 1 of 40 shares— valued at 1600 yearly. 10 of 20 shares each valued at 800 yearly. 20 of 10 shares each valued at 400 yearly. 20 of 5 shares each valued at 200 yearly. 40 of 4 shares each valued at 160 yearly. 200 of 3 shares each valued at 120 yearly. 430 of 2 shares each valued at 80 yearly. 1778 of 1 share each valued at 40 yearly. Total 2500 To the last numbered Ticket drawn 10 shares— valued at 400 yearly. Total of the Shares 4008. By the Author of the ESSAY, on the value of the said Mines.  

The form of the numbered Tickets.  The FORM and MANNER of the Tickets, and of the Drawing of the same, is as followeth: First, 125000 numbered Tickets are prepared and bound up in Books, and signed by the Managers, and delivered to the Receivers, Three of each sort in Rows of the same Number, in manner following:  three-part shareholding ticket 
〈…〉 100.  
Sept. 22. 1698.  
●… hard row of London, Merchant.  
No 100.  
Sept. 22. 1698.  
Richard row of London, Merchant.  
No 100.  
This Ticket entitles the Bearer to One Pound with Interest at 6 per Cent. and to a farther Profit at the Rate of 800 l. per Cent. and( by Chance) to a great Yearly Sum for 22 Years out of the Profits of the Mines late of Sir Carbery covetise.   
NOW put the Case that Richard row has a mind to lay out 20 s. 
The manner of taking out.  in this Adventure, and comes to John do Goldsmith,( and one of the Receivers) for a Ticket. Thereupon the said John do cuts out the owtmost Ticket on the right Hand numbered( 100) Indentwise through the said obliqne Lines; and Richard row writes, 
The Date and Name to be writ on the corresponding Tickets.  or causes to be writ upon the two corresponding Tickets the Day of the Month and Year, his own or some Friends Name, Surname, Quality, and Place of Abode, in Manner and Form as is above-written in the said Corresponding Tickets, and also Endorses the same Date and Name on the back of the Ticket so cut out.  
AND the like is done for every other Ticket that is taken out: But if Ten Tickets be taken out together, he need but writ his Name on the Tickets in the middle Row, and on the uppermost of the two Tickets in the extreme Rows. This Ticket, so cut out, is kept safe by the Party.  
AND a little before the Tickets are drawn, 125000 other Tickets are to be made, whereof 2500 are Benefit or Fortunate Tickets, and the rest blanks Tickets: The Fortunate are in manner following:  two-part "fortunate" ticket 
Fifty Shares Of the Mines late of Sir Carbery covetise.  
Fifty Shares Of the Mines late of Sir Carbery covetise. 
The Fortunate Lots.    
AND then the said numbered Tickets first above-mentioned in the second or middle Column, 
The manner of rolling up, tying and keeping the Tickets.  are to be cut Indentwise through the said obliqne Lines, rolled up and tied with silk or thread by the said Managers, in the Presence of all, or as many of the said Adventurers as will be then present,( of which due Notice shall be given in print) and put into a Box marked with the Letter [ A] which is to be immediately put into another strong Box, with seven different Locks and Keys, and kept by as many of the said Trustees and Managers, and sealed with their Seals.  

The Tickets in the innermost column remain in the Books for discovering any mistake.  And the Tickets in the first or innermost Colums of the said Books, shall remain still in the Books for the discovering any Mistake or Fraud. And the said Fortunate Tickets in the outward column shall, in like manner, and presence of all Parties, be rolled, tied, and cut Indentwise, through a fine Skroll or device, into another Box marked with the Letter [ B] and secured in another strong Box, with seven other Locks and Keys, and sealed up, and kept by the said Managers as aforesaid.  

The manner of drawing the Tickets.  AND on the Day of Drawing,( the said two Boxes being produced, and the Tickets and Blanks shaked together) some indifferent Person, appointed by the Managers, shall draw one Ticket from that Box where the said numbered Tickets shall be; and one other indifferent Person appointed and approved as aforesaid, shall presently take out a Ticket or Lot where the said fortunate and blank Tickets shall be promiscuously put together, and immediately both the Tickets so drawn shall be opened, and the numbered Ticket, 
The date and persons names writ thereon to be name aloud. The filing and entering.  with the Date and the Name, and Place of Abode of the Party thereon written, as well as the fortunate or blank Tickets, shall be name aloud; and such numbered Tickets as are drawn with Blanks, shall be put together on one File; and such as are drawn with Fortunate Tickets on another File; and the last shall not only be name aloud, as aforesaid, but also immediately entred by two public Notaries on Oath, 
Example.  in two Books of Parchment, and printed. As for instance in the Case above: He that draws the numbered Tickets, shall say aloud thus, Viz.( Number 100. May 20. 1698. Richard row of London, Merchant.) And he that draws the Fortunate Tickets shall say aloud thus, viz.( Fifty Shares. 
Manner of Entry. ) Then it shall be immediately entred in the said Books, That Fifty shares of the Mines Stock, &c. late of Sir Carbery covetise, valued at 2000 l. per Annum, 
☞  belongs to Richard row of London Merchant, on a Ticket numbered 100, and dated May the 20th, 1698.  

Fortunate lots to be printed.  And every such Entry is to be signed by one or more of the said Managers, and red aloud; and so in like manner for all the other Fortunate Tickets; and within the space of Ten days, all such Entries shall be printed, for the Satisfaction of those that shall be absent at the time of drawing the said Indenture.  

No Person can be defrauded in this Adventure.  And hence it is evident to all Persons of the meanest Capacity, That no Person whatsoever can possibly be deceived or defrauded in this Adventure; and all the trouble of comparing the Tickets, and fitting them to each other, may be avoided; unless two Persons of the same Name, Quality, and Place of Abode shall appear with a Ticket of the same Number and Date, and the same Hand-writing; and in that Case( if it may be supposed) the Tickets must be compared, and the Matter of Fact examined, by which the Impostor will easily be discovered.  
And by the said numbered Tickets remaining in the said Books, and dated as aforesaid, it will appear how much each Person, whether Fortunate or Unfortunate, did deposit, and when. All which is to be entred in another Book, 
Principal and Interest to be received from the date on the Tickets remaining in the Books.  for that purpose, in Alphabetical Order, and signed by the Managers; to the end that every Adventurer may be repaid his Principal and Interest, from the Day of the Month entred on the said Corresponding Tickets, as aforesaid: And upon delivery of all his other Tickets, may receive one Ticket for the whole.  
And after all the said Fortunate Lots shall happen to be drawn, the rest of the numbered Tickets are also to be publicly drawn, 
All the Tickets are to be drawn.  filled, and registered in the said two Books, by the said public Notaries on Oath, in the Presence of the Managers and Adventurers; that all Persons that are absent at the drawing, may resort to the said Books and Files, 
That every Adventurer may be satisfied he had a fair Chance.  and be fully satisfied that their Tickets were fairly put into the Box with the rest, and drawn, and that they had a fair Chance for their Money; for in the Books they'l see their Names registered by Officers on Oath; and on the Files they'l see their own Hand-writing on the Tickets.  
And by this means, 
☜ And thus this new Company will be established by the hand of Providence.  as Providence had a more particular Hand in the Discovery of this vast Treasure, so it will hereby have in the distribution of it; and a great Stock being thus raised, and placed in good Hands, there can be no doubt of good Success to the Adventurers, in so great and good an Undertaking for the Benefit of the Poor and of the public, as well as of the Particular and Private Adventurers.  

The MANNER of REPAYMENTS is thus: 
The manner of Repayment of Principal and Interest to Fortunate and Unfortunate.   
The Fortunate Adventurers are to have the Management of the Mines, according to the New Constitution, who will be most careful thereof for their own future, as well as present Advantage: And they are obliged by the dead of Settlement, to apply the Profits thereof,  
First, For the Repaying to each Adventurer, both Fortunate and Unfortunate, their respective Interest Money, every second Wednesday in June yearly, and afterwards for paying their several and respective Principal Sums in equal proportion, as the same shall arise out of the Profits of the premises.  
And after such Payments of both Principal and Interest, then the Profits of the said Mines are to be applied to the sole use of the said Fortunate Adventurers, they paying one fortieth part thereof for the use and maintenance of poor aged Miners or Labourers.  
But when the Profits of the said Mines clear, above all Charges, 
And of having 900 l. for every 100 l. besides the fortunate Lots.  shall exceed the Sum of 20000 l. per Annum, then the Fortunate are to receive 20000 l. yearly to their own use clear of all Charges, but the Overplus thereof above that value, shall be applied to a second Payment of the Principal Money so adventured as aforesaid, to both Fortunate and Unfortunate; and after Payment thereof, then the Fortunate Adventurers are to receive 40000 per Annum to their own use, but when the Profits increase to the annual value of 40000 l. and upwards; then the Overplus thereof above 40000 l. are to be applied to a third Payment of the said Principal Money; and after such Payment, then to the Fortunate alone, till the Annual Profits increase 20000 l. more, viz. to 60000 l. and upwards; and then the Overplus thereof, over and above that value, is to be applied to a fourth Payment of the said Principal Money: And so in like manner the Overplus of the clear Profits above 80000 l. per Annum, is to be applied to a fifth Payment, and so on, after every 20000 l. per Annum Increase thereof, the Overplus of the Profits are to be applied to another Payment of the said Principal Money, to both Fortunate and Unfortunate, as aforesaid, till the Profits arise to 160000 l. per An.  
And thus they who have benefited Tickets, 
The great Advantage to the Fortunate.  may be truly called Fortunate, when they have all their Money deposited paid back to them, as aforesaid, and so vast a Treasure besides, without any hazard, together with a Noble Stock of 20000 l. The Trustees are entrusted to see all this Duly performed.  
And the Unfortunate in this Adventure may, in some respects, 
And to the Unfortunate.  be said to be fortunate also; that they had an opportunity of placing their Money on so good a Fund, where they are secure of Principal and Interest, and a fair probability of 800 l. per Cent. Profit. 
☜ The Partners will hereby have a greater advantage then was proposed.   
Note, The Partners by this Adventure will enjoy much greater Advantages than was promised; for whereas it was proposed that they should either relinquish at 10 l. per share in Money, and 10 l. on the Credit of the Mines, without Interest, and that they should either go out for all, or come in for all their Shares: By this method they have an Election to go out, and come in for as much, or as little as they please. Those that go out for all( if the Adventnture be full) will instead of 10 l. have 20 l. per share in ready Money. And those that come in for all, will not only have their 20 l. per share certain upon the Credit of the Mines, 
☞  but also Interest for the same, and 800 l. per Cent. Profit; and moreover 400 Tickets; and thereby a fair Chance for as many shares as they had before,( tho' a Fifth part thereof may be of equal value) and those that please may go out for part in Ready Money, and take the rest in Tickets, and on the Credit of the Mines. As for instance; If any Person hath Twenty shares, 
An Example.  which at 20 l. per share is worth 400 l. he may go out for Ten shares, and take 200 l. in ready Money as soon as the Adventure is drawn,( which is at the rate of 20 l. per share for Ten shares, or 10 l. per share for Twenty shares.) And for the other Ten shares, he will have 20 l. per share on the Credit of the Mines, which is 200 l. more, besides Interest at 6 l. per Cent. and 1600 l. Profit, in eight Payments; which is Eighteen hundred pound for his Two hundred; and also 200 Tickets, and all the Benefits that may arise by the same; and the like in any other proportion whatsoever; all the Partners being left to their own free Choice and Election in this Matter. All which Advantages are more than was promised, and such as the Proposer hopes will not be unacceptable to the Partners.  

☞ And all the Adventurers will have the same advantage as the Partners.  Note also, That the Partners have no Advantage by this Adventure, but what is equally Communicated to every other Adventurer: For if a a Partner has Twenty shares, and takes out the value thereof at 20 l. per share in Tickets, which is 400 Tickets, he will have 400 l. with Interest on the Credit of the Mines, and so will any other Adventurer who takes out 400 Tickets with Money; there being no other difference than this, That a Stranger takes out Tickets with ready Money, and the Partners upon the value of their shares at 20 l. per share; but both have their 400 l. with Interest equally secured on the Credit of the Mines, and as many Payments as will make his 400 l. 3600 l. and all the Benefits which may arise by the 400 Tickets besides.  

Whereby it appears, the Proposal is just to the Old, and advantageous to the New Adventurers.  And thus Sir H. M. humbly hopes, That as he hath proposed an Expedient fair and just to those Partners, whose Circumstances may oblige them to relinquish their Shares; so it cannot be unprofitable to any other who think fit to become Adventurers with him in this Undertaking; especially when he considers, that as one Share in the New-River-Water was raised from Five hundred pounds to Four thousand pounds per Share, so by the author of the Essay's Calculation, one Share in these Mines may, in a few Years, be worth Four hundred pounds; and sure he is, that nothing but the unhappy Differences amongst the Partners could have occasioned such an Overture to the World, 
☞  of so rich a Treasure, at so low a Value.  

The Profit of the Silver.  For besides the Profit of the led and Copper, when he considers what vast quantities of Oar may be raised, at Five or Six shillings a Tun when the Levels are open, and that Silver also may be extracted out of the Lead-Oar with little waste of the led, which is better after it is robbed of the Silver than before: When he reflects that Sir Hugh Middleton gained 24000l . per Annum with a small Stock, 
See Sir John Pettus's Fodine regal, pag. 33.  and Mr. Bushel clothed the late Kings whole Army from small Veins in the same County, which he conceives no Person will pretend( taking one thing with another) to compare with these: When the Advantages of such large Veins, lying near the Sea, near a good Harbour for Ships, in a cheap Country, free from all Duties to the Lord, clear of all encumbrances, &c. are considered, what may not be expected from this Undertaking, with a large Stock and a good Constitution?  
But as to the Silver, it's well known, 
The value of the Silver.  That at the Trials at Westminster-Hall, different Proofs were made of the Value thereof in Silver, from 60 l. per Tun of Metal, to 3 or 4 l. a Tun, which occasioned very great Censure of Perjury on one side or other. But tho' I will not take upon me to judge of that Matter, being not present at the Trial, yet from the Experience I have had of Mines, I am charitably inclined to believe it possible, that all those different Oaths may be consistent: For I am informed the Proof lay thus; The Extractor swore that he received a parcel of Oar from [ A, B.] which yielded at the rate of 60 l. per Tun; 
Note, That the great Vein lies in Ridges, like Planks of a Floor, one of Potters Oar, rich in led and poorer in Silver; another of harder Oar, poorer in led, and rich Silver.  [ A, B.] swore he had that parcel of Oar out of the Mines of Sir Carbery covetise. Another Extractor swore he had a parcel of Oar from [ C, D.] which yielded but 4 l. per Tun; and [ C, D.] swore he had that very parcel of Oar from the said Mines. And all this might be true: For it's certain, that in most Veins there is small Ribs and Knots of Oar vastly richer than the other parts thereof, and [ A, B.] might pick choice pieces for the Patentees, and [ C, D.] the worst he could meet with near the Surface of the Ground for Sir Carbery covetise; whereby all that Matter seems to be reconciled: And I presume, I may modestly compute between the two extremes, that these Mines( I mean the hard Oar) besides the Profit of the led, may yield one with another about 14 l. 
Note, By the late Act of Royal Mines, the Subject is entitled to 9. l. for every Tun of Lead-Oar, which yields Silver.  in Silver per Tun of Metal; which consisting of Two Tun and a quarter of Oar, at 9 l. per Tun, and amounting to 20 l. and 5 s. there is no danger of losing the same by the Act of Royal Mines: Tho' I hearty wish, for the Good of his Majesty and these Kingdoms, that when our Levels are brought home at Sixty four Yards deep, it may hereafter prove so rich, as to be worth his Majesties Acceptance at that Rate; which would be a vast Advantage to the King and Kingdom, and yield as much Profit to the Partners as they can reasonably expect or desire.  
The Management of the Mines is settled according to the best Establishments of that kind in this Kingdom, 
The management of the Mines, how established?  whereby the Stock( whether ready Money or Bank Bills) is to be secured in an Iron Chest, with seven several Locks and Keys, to be kept by so many of the Committee. The Works to be carried on to the best Advantage, a Transfer-Book established, all Wrong and Oppression restrained, no one Partner to have above one Vote, Suits of Law prevented, and the meanest Adventurer secured, to have the Money due to him forthwith paid without delay, under the severest Penalty on that Person that shall endeavour to defraud him. See the last Settlement page. 7.  
And as to the Title of the said Mines, 
The Title unquestionable.  the same is not only perused and approved by the said Counsel, but will be allowed by all, when 'tis but mentioned to be derived from Sir Carbery covetise, whose Title was so well known through all the City of London, upon the first granting of this Lease, which has been so often approved, and indeed not so much as ever questioned, even by his Adversaries, in all those Great and Solemn Trials at Bar in Westminster-Hall, between him and the Patentees of Royal Mines. And the World is not ignorant that this Gentleman's Concern and Title to these Mines, was the first occasion of that Act of Parliament concerning Royal Mines, which in due time will, in all probability, redound to the great Advantage of his Majesty and these Kingdoms, by promoting the Discovery of more Mines, and thereby advancing the Trade, Customs, Manufactures, Wealth and Strength thereof.  

Partners obliged to pay their Debts.  All Moneys due to Partners any ways indebted, shall upon timely Notice from their Creditors to the Secretary or Accountant, and giving Security to save them harmless for so doing, be retained in the Iron Chest till the Right is determined, and the Partners indemnified for payment thereof.  

Reasons for a public Charity.  And to the end that so great a Treasure may not be Engrossed by private Persons, but that the whole Kingdom may receive a Benefit, and not only a General and public, but in some measure, a particular and private Advantage, from the same; and that the Impotent and Poor, however dispersed in the several Counties of England and Wales, may taste of this Treasure, and( tho' unable to take out Tickets for themselves) may yet partake of the Advantages of this Undertaking, and have a fair Chance. for their subsistence; and that other Persons may, from this small beginning, be encouraged to follow this Example in Matters of like Nature, whereby many Corporations at present, and the whole Nation in time, may be eased from the burden of the Poors Tax.  

Ten thousand Tickets, with the Benefits thereof granted to charitable uses.  Ten thousand Tickets, with the Benefits thereof, are granted to charitable Uses; that is to say, Two thousand one hundred Tickets, with the Benefits thereof, are most humbly recommended to be distributed to such Charitable Uses as shall be appointed by the Archbishop of Canterbury, the Lord High Chancellor of England, the Archbishop of York, the Lord President of his Majesties Privy Council, the Lord Privy Seal, and the Lords Commissioners of his Majesties Treasury, the Bishop of London, and all the Bishops of the several Dioceses in England and Wales, the Lord Chief Justice of England, and the rest of the Judges of his Majesties Court of Kings Bench, the Lord Chief Justice of the Common Pleas, and the rest of the Judges of his Majesties Court of Common Pleas, the Lord Chief Ba- of England, and the rest of the Barons of the Court of Exchequer for the time being, and by the Master of the Rolls, and their Successors respectively.  
And 750 Tickets by the Chief Justice of Chester, and the rest of the Judges of North-Wales and South-Wales; by the Benchers and bar ters of the four Inns of Courts; by the two Universities of Oxford and Cambridge; by the President and Fellows of St. Mary Magdalen college in Oxford.  

See the names of the Corporations in the last page. of the second Settlement.  And 4700 Tickets, with the Benefits thereof, are given and granted to the Poor of the City of London, Westminster, Bristol, and York, and the Borough of Southwark, and Towns of Shrewsbury, Monmouth and cardiff, and to most of the Cities, Chief Burroughs and Towns Corporate in England and Wales, as in the Settlements mentioned.  
And 1200 Tickets with the Benefits thereof, to the Poor of the particular Towns, Villages and Parishes hereafter mentioned, that is to say, Lanvihangell-Generglyn, and Lanbadernvaure, in Cardiganshire; Abergavenny, Uske, Carlion, Chepstow, Newport and St. Melans, in Monmouthshire; Cowbridge, Margam, Avon, briton, Neath, Caddoxton and Swanzy in Glamorganshire; Little dean, Flaxley, Huntley, Newland, Great and Little Badminton in Glocestershire; Abbots-Betton, Elsmere, Drayton, Oswestrye, Woore, Longstow, Broseley, Bentall, Rockadine, Lyleshall, Cundour, Cund, Bracemeale, in Shropshire; Brandford-Forum, in Dorsetshire; borough, Broughschoole, Kirbey-Stephen, and School, Orton, the chapel upon Stainsmore, the School upon Stainsmore, the School of Ravenstendale, the School at Winton, Hilton, and Murton in Westmoreland; bows, Wenslaydale, Rumble-Church, Swayledale, and Brampton in the Parish of Wa●h, in York-shire; Kirklan, Eaden-Hall, and Ousby in Cumberland; Dilton in Wiltshire.  
And 1350 Tickets with the Benefits thereof for Augmentation of poor vicarages in Wales, to Greenwich and the several Hospitals in and about London, to the Friendly Society of Widows, for the Assistance and Encouragement of such Persons as shall endeavour the Conversion of Infidels in the Indies, and towards the Relief of Poor Prisoners.  
All which Tickets are to be taken out gratis, and the Benefits thereof in the several Payments above-mentioned; and also in Fortunate Lots; to be from time to time applied to Charitable Uses, by such honourable Persons as aforesaid, and by the Mayors, Aldermen, and Common-Council-Men of the said Cities and Towns Corporate; and by such other Person and Persons, and in such Proportion, Manner and Form as in the Settlements for that purpose made, is at large directed and appointed.  
And thus Sir H. M hopes he hath performed what he undertook, 
That the Proposal made by Sir H.M. is performed according to the true intent and meaning thereof.  and that his Proposal and Expedient will( by this Method) be accomplished to the Satisfaction of all Parties:  
For first, 'tis conceived that no Person could rationally expect from his Proposal, that any more was intended, than to put the Partners in such a way of Paying their Debts, and of raising a Stock, as should be more easy and safe in every respect, and more convenient to reconcile the different Interests amongst them, and for promoting the public Good, than any other Proposal that had been made; and that whatever was proposed by him, was to be done by an Expedient, 
1st, By an Expedient.  not by giving so much Money out of his own Pocket, as some( that were not Partners) vainly imagined.  
But secondly, Though he presumes he might, with good reason, expect to stand in equal Circumstances with all the other Partners, and that it was really more than could be reasonably expected from him, to bestow his Labour and Pains in this Undertaking( which has not been inconsiderable) without any the least return to his own particular Advantage; Yet as this Case stands, he has not only done this, 
2ly. By the several Grants made to the Partners. ☜  but in effect hath raised the Stock, and paid the Debts out of his own Pocket: For if ever the Mines will answer Mr. Waller's Valuation in his Essay, it will be in the last Five years of the Term which is granted by the Proposer to the Partners.  
For as the number of Men employed may be doubled every Year by sinking more Shafts, and raising more Stages or Stelches upon every Vein, for more Men to work upon, it must needs follow, That the last Five years will yield more Profit then the first Ten; at which Rate, allowing a Rebate for a Reversion after Seventeen years, the value of the last Five years may be cast up by any Accountant to a great deal more Money, not only than the Debts and Stock, but than all the Mines themselves are valued at, in this Expedient: And thereby, 'tis plain, 
And thereby raising a Fund of Credit sufficient to answer the present occasions.  he raises a Fund of Credit, and gives that additional Value to the Partners Shares, which answers all these Occasions, and is the same thing in effect as giving the Money itself.  
But, thirdly, when all the other Advantages granted to the Partners are also seriously considered, and that the Undertaker doth not directly or indirectly gain any manner of Advantage to himself by this Proposal, 
Without the least Advantage to himself.  but what is equally communicated to every Partner and Adventurer whatsoever, and that a Benefit will accrue to the public, and to the Poor, by this Method, which would have been lost by any other. It is humbly hoped that the best part of Mankind will entertain a favourable Opinion of this Undertaking.  

Subscriptions to be taken from Sept. 12. to Octob. 15.  And to the end the Mines may speedily be set on Work on the Credit of this Adventure, and no time be lost whilst Tickets are preparing, Subscriptions for Tickets may be taken from the Twelfth day of September, from any Person or Persons whatsoever, till the Fifteenth day of October, in manner and form as in the Indenture Tripartite is set forth.  

Interest from the day of Subscription, paying down a tenth part.  And every Person so Subscribing is to have Interest from the Day of his Subscription, paying down one Tenth part of the Sum subscribed,( taking a Receipt for the same) and the Residue on or before the First day of November next. The Form of the Receipt is thus: 

I A. B. do hereby aclowledge to have received from C. D. this present 〈◇〉 day of 〈◇〉 1698. the Sum of( 10 l.) being the Tenth part of one Hundred pounds subscribed by the said C. D. for one Hundred Tickets in the Mine-Adventure; 
The Receipt for the Sum.  which Tickets I do hereby promise to deliver, or cause to be delivered to the said C. D. upon his payment of the further Sum of Ninety pounds to Sir Humphrey Mackworth, or his Order, at or before the first day of November next.  
Witness my Hand.    

Subscribers to elect to draw by 1 l. or 10 l. Tickets.  And in case the whole Sum of 125000 l. shall be subscribed for, then the mayor Number of Subscribers, at a General Meeting to be held, and Summoned at such Time and Place, and in such Manner and Form as shall be appointed by the said Managers, or the mayor part of them, may elect, whether this Adventure shall consist in the drawing of 125000 Tickets at 1 l. per Ticket, or 12500 Tickets at 10 l. per Ticket, all things to be proportioned accordingly.  
See the Form of the Instrument of Subscription, and of the Affidavit taken by the Parties concerned, for the faithful discharge of their Trust in the second Settlement, pag. 15, 17.  
At the end of the Lease the Stock of 20000 l.( which is never to be lessened on any Dividend) is to be also divided to each Adventurer, according to his respective shares.   

UPON THE WHOLE MATTER,  
Every Person may observe, that here he may( if he please) make a secure Bargain without hazard, being rather an Usurer than an Adventurer at the worst hand. But secondly, That he hath a fair Chance besides of a Fortunate Lot, and of getting a great Estate to himself and Family. For thirdly, Here is a great Stock of 20000 l. raised the main Wheel on which all great Uundertakings move. Fourthly, A complete term for profit of Two and twenty years from the First day of January next. Fifthly, A secure Method Established before-hand for the Management of the Mines, as well as the Drawing of the Tickets, and doing Justice to all Parties. Sixthly, Trustees of Worth and Integrity. Seventhly, An undoubted Title. Eighthly, A general and particular Charity to the Poor. Ninthly, Many great Advantages in these above other Mines, as in the largeness of the Veins, situation near the Sea, a deep Level, the benefit of Five years work, and of Smelting Houses and Cupulo's, &c. all Obstructions of the Works being rectified and prevented. And tenthly and lastly, Here is an Opportunity offered of advancing the Trade and Customs, preserving the Coin and Bullion, increasing the Strength and Wealth, and in short, of promoting the general good of his MAJESTY and his KINGDOMS.  
So that if either private Interest, love to our Country, or Charity to the Poor may be supposed to prevail, this ADVENTURE cannot meet with any Disappointments.   
FINIS.