July 1 to March 31 - to March 31 y I cannot discover the precise value of the Plates which appear in this Account; but three Plates and an half are evidently less than one quarter of an ounce. z Of this total 31lb. 6 oz. were of fine Gold, and 181lb. 9oz. of 22 Carats fine. * In this year the Silver Coinage was suspended. The small Coins which are distributed on Maundy Thursday. The Profits of the Mint once formed no inconsiderable part of the Revenues of the Crown; and they arose from various sources: from the SEIGNORAGE, the MONEYAGE, the SHERE, and the difference between the Tower Pound and the Troy Weight. The SEIGNORAGE was a certain deduction from all the Bullion which was coined; and it may be divided into two parts; viz. that which was taken to defray the expenses of Coinage, and that which was claimed by the Sovereign by virtue of his prerogative. The former of these is, probably, almost as antient { as the invention of Coined Money, for it would soon be discovered that the Sovereign, after he had turned his Bullion into Coins, for the convenience of his Subjects, was no richer than before; and consequently the mere charge of Coinage would, at an early period, be laid upon them.. It is not, however, probable that the deduction remained fixed at so moderate a point for any length a These were all avowed profits: but sometimes small deviations from the Indentures were authorised by the Sovereign, which covertly increased the Revenue arising from the Mint. See instances in the reign of Elizabeth, in her 21st and 23d years, in the Annals of Coinage. |