William III, 1696-7
An Act for the further remedying the ill State of the Coin of the Kingdome. [Chapter II. Rot. Parl. 8 & 9 Gul. III. p. 1. nu. 1]

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History of Parliament Trust

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John Raithby (editor)

Year published

1820

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162-164

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'William III, 1696-7: An Act for the further remedying the ill State of the Coin of the Kingdome. [Chapter II. Rot. Parl. 8 & 9 Gul. III. p. 1. nu. 1]', Statutes of the Realm: volume 7: 1695-1701 (1820), pp. 162-164. URL: http://www.british-history.ac.uk/report.aspx?compid=46850 Date accessed: 25 April 2014. Add to my bookshelf


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Hammered Silver Money brought to the Mints before 1st July 1697, to be received at 5s. 4d. per Ounce.

Whereas great Mischiefs and Inconveniences have fallen upon this Kingdome by the frequent counterfeiting Clipping & other unlawfull diminishing of the current Coine of this Kingdome for the remedying whereof for the future it is thought necessary that all the hammered Silver Coin of this Kingdome should be recoined by the Mill and Presse which will be lesse subject to those pernicious and destructive Methods of clipping and counterfeiting and that in the meane time to putt a stopp to the further clipping such hamered Money the same should not be current in Payment otherwise than is hereafter mentioned For the Incouragement therefore of all Persons to bring in their ha[m]mered Silver Money into His Majesties Mints to be recoined be it enacted by the Kings most Excellent Maj[es]ty by and with the Advice and Consent of the Lords Spiritual and Temporal and Co[m]mons in this present Parliament assembled and by the Authority of the same That all such ha[m]mered Silver Money clipped or unclipped as shall be brought by any Person att any time after the Fourth Day of November One thousand six hundred ninety six and before the First Day of July One thousand six hundred ninety seven unto any of His Majesties Mints shall be there received by the Officers of his Majesties Mints att the Rate of Five shillings and Foure pence per Ounce for every Ounce Troy of all such ha[m]mered Silver.

II.

Hammered Coin to be taken for Taxes or Loans, &c; at 5s. 8d. an Ounce.

And be it further enacted by the Authority aforesaid That all and singuler his Majesties Receivers Collectors and other Officers concerned in the Receipt or Collection of any of his Majesties Aids Taxes or other Revenues or of any Loans to be made to his Majesty shall and they and every of them are hereby impowered and required to take and receive in Payment from any of his Majesties Subjects all such hammered Silver Coine as shall be by them tendred to such Receiver Collector or other Officer for or in discharge of any Aids Taxes or other Revenue or upon any Loans att any Time between the Fourteenth Day of November One thousand six hundred ninety six and the respective Times herein after mentioned that is to say the First Day of February then next ensuing as to Loans and all Arrears of Aids Taxes or Revenues due before the said First Day of February and the First day of June then next ensuing as to all future Aids and Taxes and all other Revenues and Duties whatsoever att the Rate of Five shillings and eight pence for every Ounce of such hammered Silver Coine so tendred or lent and the Tender Paym[en]t. or Loan of every Ounce of such hammered Silver Coin shall be as good a discharge to the Person tendring paying or lending the same his Heires Executors or Administrators for the Su[m]m of Five shillings and eight pence as though the said Su[m]m of Five shillings and eight pence had been tendred paid or lent in the lawful current Coin of this Kingdome.

III. After 1st Dec. 1696, no hammered Silver Coin to be current, except by Weight.

And be it further enacted by the Authority aforesaid That from & after the First Day of December One thousand six hundred ninety six no hammered Silver Coin of this Kingdome shall be current in any Payment whatsoever except onely such as are herein before mentioned otherwise than by weight onely after the Rate of Five shillings and two pence for every Ounce of Sterling Silver.

IV. Broad hammered Money received before 18th Nov. 1696, by Tale for Taxes, &c.

Collector, &c. on Oath may pay the same by Tale till 18th Dec. 1696; Commissioners, &c, to have till 10th Jan. 1696 to pay the said hammered Monies into the Exchequer, and make Oath the same was received by Tale, &c; Affidavits to be filed.

And be it further enacted by the Authority aforesaid That all such hammered Money consisting onely of Pieces having both the Rings or the greatest part of the Letters remaining on them or being Sixpences of Sterling Silver not clipt within the innermost Ring as have been before the Eighteenth Day of November One thousand six hundred ninety six actually received or collected by any Co[m]missioners Receiver General or other Receiver or Collector or the Deputies of any of them by tale for any publick Tax Aid Imposition or Revenue whatsoever shall and may in like manner be paid by and received from them upon their respective Accompts by way of tale and not by weight within the times and in such manner as are hereafter limittd nd ppointed and not otherwise that is to say Every particular Receiver or Collector who by Law is to make his Payments to any Co[m]missioners Receiver General or Head Collector shall have time for doeing thereof till the Eighteenth Day of December One thousand six hundred ninety six making Oath (when he tenders such Payment before such Co[m]missioners Receiver General or Head Collector or their respective Deputies who have hereby power to administer the same) that the hammered Money then brought or tendred by such particular Receiver or Collector was actually and bona fide received by him by? tale before the said Eighteenth Day of November One thousand six hundred ninety six for the resp[ecti]ve Tax and Imposition or Revenue upon which hee offers to pay the same and that hee hath not directly nor indirectly made any Profitt thereby other than what is allowed by Act of Parliament which Oath shall be taken in writing and brought together with the Money to which it relates into the Receipt of the Exchequer as is herein after mentioned and the respective Co[m]missioners Receivers General or Head Collectors of any the said Taxes Aids Impositions or Revenues shall have time until the Tenth Day of January One thousand six hundred ninety six for paying the said hammered Moneys consisting of such Pieces as aforesaid into the Receipt of his Majesties Exchequer so as they respectively or their respective Deputies or Persons intrusted in their Receipts do att the same time of making such Payments make Oath before the Auditor of the Receipt or Clerk of the Pells in the said Exchequer who have hereby Power to administer the same that the Money so by them tendred or brought to the said Receipt was actually and bona fide received by them by tale respectively before the said Eighteenth Day of December One thousand six hundred ninety six on Accompt of such Tax Aid Imposition or Revenue as aforesaid or was brought to them by such particular Receivers or Collectors as aforesaid within the time limitted and that they have not directly nor indirectly made any Profitt thereby other than what is allowed by Act of Parliament and so as the said Co[m]missioners Receiver General or Head Collectors or their Deputies or Persons intrusted in their Receipts as aforesaid do produce the said Affidavitts of particular Receivers or Collectors with their Money (all which said Oaths or Affidavitts in writing shall be duely filed in the said Receipt of Exchequer by the said Clerk of the Pells.)

V.

Hammered Money to be melted down and coined by the Mill; New Money to be brought back into Exchequer; and, in the Case herein mentioned, appropriated for Repayment of Loans, &c. and not divertible; Penalty.

And be it further enacted by the Authority aforesaid That aswell all the hammered Money consisting of Pieces, described as aforesaid so to be brought into the Receipt of the Exchequer by tale as aforesaid as also all hammered Moneys likewise consisting onely of Pieces having both the Rings or the greatest part of the Letters remaining on them or being Sixpences of Sterling Silver not clipt within the innermost Ring actually being and remaining in the Receipt of his Majesties Excheq[uer] on the Eighteenth Day of November One thousand six hundred ninety six having been bona fide received there by the respective Tellers (they the respective Tellers or their Clerks making Oath as aforesaid) for any Tax Aid Imposition or other Revenue whatsoever shall from time to time by the Direction of the Co[m]missioners of his Majesties Tresury or any one or more of them now being or the High Tresurer or any one or more of the Co[m]missioners of the Tresury for the time being (who have hereby full Power and Authority given them in that behalfe) be melted downe and cast into Ingotts and be delivered into his Majesties Mint or Mints by Indentures with the Master and Worker of the Mints to be there reduced to Sterling and coined by the Mill and Presse into the lawfull Coins of this Realme and that all the new Money proceeding from such Ingotts (except the necessary charge of making the new Money and of melting the Silver) shall from time to time be brought back into the Receipt of his Majesties Excheq[uer] and be there placed to the respective Accompts of the said particular Revenues Taxes Loans or other Branches to which the said hammered Moneys respectively did belong and shall be issued paid out and disposed accordingly so farr as the same will extend in such and the like course or manner as ought to be observed in case the said hammered Moneys were not taken away to be recoinèd and so as that in all cases where any of the said hammered Moneys were appropriated by any Act or Acts of Parliament for Repayment of Loans or for Satisfaction of Interest Money or for Payment of Annuities or other Uses the new Moneys coming instead thereof (so farr as the same will extend) shall be appropriated issued and applied to the same respective Uses and in the same course and order as are precribed by such Acts without being diverted or divertible to any other Use or being misapplied under the Penalty of incurring the same Forfeitures and Disabilities by the Officers and other Persons concerned therein as they would have incurred for diverting or misapplying the Money of such Taxes Revenues Loans or other Branches in case the same were not recoined

VI. Monies for Taxes at 5s. 8d. an Ounce to be recoined at the next adjacent Mint, &c.

And be it enacted by the Authority aforesaid That all Money that shall be brought in upon the Accompt of Taxes or Revenues or Loans att Five shillings and eight pence per Ounce according to this Act shall be by the respective Officers of the Exchequer Receivers General or Collectors carried to the next adjacent Mint in order to be recoined and that the said Taxes and Revenues shall not be brought into his Majesties Exchequer till recoined Any Law or Statute to the contrary in any wise notwithstanding.

VII. Collectors of the Toll for making navigable the Rivers Wye and Lugg, may before 1st June 1697, receive the same in hammered Money at 5s. 8d. an Ounce, &c.

And be it hereby enacted by the Authority aforesaid That it shall and may be lawfull for the Collectors for the time being appointed to receive the Money charged on the County of Hereford for the making navigable the Rivers Wye & Lugg in the said County by one Act made in the last Session of this present Parliament to receive the Money so charged and the Arrears thereof att any time before the First Day of June One thousand six hundred ninety, seven in ha[m]mered Money clipt or unclipt att the Rate of Five shillings & eight pence per Ounce and to pay it in att that Rate to the Receiver General for the time being appointed in pursuance of the said Act Any thing in this Act to the contrary in any wise notwithstanding And alsoe that what Money shall be so paid to the said Collectors by any Person taxable by ( (fn. 1) ) of that Act though it be more than shall be due before the said First Day of June One thousand six hundred ninety seven shall be received by the said Collectors and allowed to the respective Accompts of the Persons so paying the same in discharg of so much leviable upon them by the said Act & shall be paid by the said Collectors to the said Receiver General And that the said Receiver General shall be under the Direction of the Trustees named in the said Act or the major part of them either forthwith to pay the Money to such Persons who have already lent on the borrowing Clause of the said Act or to send the same as received to the next Mint to be coined and as received from the Mint to be paid according to the Direction and Appointment of the said Act.

Footnotes

1 The Word "this," appears rubbed out upon the Roll in this Place.