Chapter 13

41 13 4 5 10 0 ------- will be per cent. 47 3 4

That we are under great distress for change, and that Mr. M'Culla's copper notes, on supposition of the metal being pure, is less liable to objection than the project of Wood, may be granted: but such a discount, where we are not sure even of our twentypence a pound, appears hitherto a dead weight on his scheme.

Since I writ this, calling to mind that I had some copper halfpence by me, I weighed them with those of Mr. M'Culla, and observed as follows:

First, I weighed Mr. M'Culla's halfpenny against an English one of King Charles II., which outweighed Mr. M'Culla's a fourth part, or twenty-five per cent.

I likewise weighed an Irish Patrick and David halfpenny, which outweighed Mr. M'Culla's twelve and a half per cent. It had a very fair and deep impression, and milled very skilfully round.

I found that even a common halfpenny, well-preserved, weighed equal to Mr. M'Culla's. And even some of Wood's halfpence were near equal in weight to his. Therefore, if it be true that he does not think Wood's copper to have been faulty, he may probably give us no better.

I have laid these loose thoughts together with little order, to give you, and others who may read them, an opportunity of digesting them better. I am no enemy to Mr. M'Culla's project; but I would have it put upon a better foot. I own that this halfpenny of King Charles II., which I weighed against Mr. M'Culla's, was of the fairest kind I had seen. However, it is plain the Crown could afford it without being a loser.[116] But it is probable that the officers of the mint were then more honest than they have since thought fit to be; for I confess not to have met those of any other year so weighty, or in appearance of so good metal, among all the copper coins of the three last reigns; yet these, however, did much outweigh those of Mr. M'Culla; for I have tried the experiment on a hundred of them. I have indeed seen accidentally one or two very light; but it must certainly have been done by chance, or rather I suppose them to be counterfeits. Be that as it will, it is allowed on all hands, that good copper was never known to be cheaper than it is at present. I am ignorant of the price, further than by his informing me that it is only fourteenpence a pound; by which, I observe, he charges the coinage at thirty per cent.; and therefore I cannot but think his demands are exorbitant. But, to say the truth, the dearness or cheapness of the metal do not properly enter into the question. What we desire is, that it should be of the best kind, and as weighty as can be afforded; that the profit of the contriver should be reduced from sixteen to eight per cent.; and the charge of coinage, if possible, from thirty to ten, or fifteen at most.

Mr. M'Culla must also give good security that he will coin only a determinate sum, not exceeding twenty thousand pounds; by which, although he should deal with all uprightness imaginable, and make his coin as good as that I weighed of King Charles II., he will, at sixteen per cent., gain three thousand two hundred pounds; a very good additional job to a private tradesman's fortune!

I must advise him also to employ better workmen, and make his impressions deeper and plainer; by which a rising rim may be left about the edge of his coin, to preserve the letter from wearing out too soon. He hath no wardens nor masters, or other officers of the mint, to suck up his profit; and therefore can afford to coin cheaper than the Crown, if he will but find good materials, proper implements, and skilful workmen.

Whether this project will succeed in Mr. M'Culla's hands, (which, if it be honestly executed, I should be glad to see,) one thing I am confident of, that it might be easily brought to perfection by a society of nine or ten honest gentlemen of fortune, who wish well to their country, and would be content to be neither gainers nor losers, further than the bare interest of their money. And Mr. M'Culla, as being the first starter of the scheme, might be considered and rewarded by such a society; whereof, although I am not a man of fortune, I should think it an honour and happiness to be one, even with borrowed money upon the best security I could give. And, first, I am confident, without any skill, but by general reason, that the charge of coining copper would be very much less than thirty per cent. Secondly, I believe ten thousand pounds, in halfpence and farthings, would be sufficient for the whole kingdom, even under our great and most unnecessary distress for the want of silver; and that, without such a distress, half the sum would suffice. For, I compute and reason thus: the city of Dublin, by a gross computation, contains ten thousand families; and I am told by shopkeepers, "That if silver were as plenty as usual, two shillings in copper would be sufficient, in the course of business, for each family." But, in consideration of the want of silver, I would allow five shillings to each family, which would amount to _2,500l._; and, to help this, I would recommend a currency of all the genuine undefaced harp-halfpence, which are left, of Lord Dartmouth's and Moor's patents under King Charles II.; and the small Patrick and David for farthings. To the rest of the kingdom, I would assign the _7,50l._ remaining; reckoning Dublin to answer one-fourth of the kingdom, as London is judged to answer (if I mistake not) one-third of England; I mean in the view of money only.

To compute our want of small change by the number of souls in the kingdom, besides being perplexed, is, I think, by no means just. They have been reckoned at a million and a half; whereof a million at least are beggars in all circumstances, except that of wandering about for alms; and that circumstance may arrive soon enough, when it will be time to add another ten thousand pounds in copper. But, without doubt, the families of Ireland, who lie chiefly under the difficulties of wanting small change, cannot be above forty or fifty thousand, which the sum of ten thousand pounds, with the addition of the fairest old halfpence, would tolerably supply; for, if we give too great a loose to any projector to pour in upon us what he pleases, the kingdom will be, (how shall I express it under our present circumstances?) more than undone.

And hence appears, in a very strong light, the villainy of Wood, who proposed the coinage of one hundred and eight thousand pounds in copper, for the use of Ireland; whereby every family in the kingdom would be loaden with ten or a dozen shillings, although Wood might not transgress the bounds of his patent, and although no counterfeits, either at home or abroad, were added to the number; the contrary to both which would indubitably have arrived. So ill informed are great men on the other side, who talk of a million with as little ceremony as we do of half-a-crown!

But to return to the proposal I have made: Suppose ten gentlemen, lovers of their country, should raise _200l._ a-piece; and, from the time the money is deposited as they shall agree, should begin to charge it with seven per cent. for their own use; that they should, as soon as possible, provide a mint and good workmen, and buy copper sufficient for coining two thousand pounds, subtracting a fifth part of the interest of ten thousand pounds for the charges of the tools, and fitting up a place for a mint; the other four parts of the same interest to be subtracted equally out of the four remaining coinages of _2,000l._ each, with a just allowance for other necessary incidents. Let the charge of coinage be fairly reckoned, and the kingdom informed of it, as well as of the price of copper. Let the coin be as well and deeply stamped as it ought. Let the metal be as pure as can consist to have it rightly coined, (wherein I am wholly ignorant,) and the bulk as large as that of King Charles II. And let this club of ten gentlemen give their joint security to receive all the coins they issue out for seven or ten years, and return gold and silver without any defalcation.

Let the same club, or company, when they have issued out the first two thousand pounds, go on the second year, if they find a demand, and that their scheme hath answered to their own intention, as well as to the satisfaction of the public. And, if they find seven per cent. not sufficient, let them subtract eight, beyond which I would not have them go. And when they have in five years coined ten thousand pounds, let them give public notice that they will proceed no further, but shut up their mint, and dismiss their workmen; unless the real, universal, unsolicited, declaration of the nobility and gentry of the kingdom shall signify a desire that they shall go on for a certain sum farther.

This company may enter into certain regulations among themselves; one of which should be, to keep nothing concealed, and duly to give an account to the world of their whole methods of acting.

Give me leave to compute, wholly at random, what charge the kingdom will be at, by the loss of intrinsic value in the coinage of _10,000l._ in copper, under the management of such a society of gentlemen.

First, It is plain that instead of somewhat more than sixteen per cent. as demanded by Mr. M'Culla, this society desires but eight per cent.

Secondly, Whereas Mr. M'Culla charges the expense of coinage at thirty per cent., I hope and believe this society will be able to perform it at ten.

Thirdly, Whereas it doth not appear that Mr. M'Culla can give any security for the goodness of his copper, because not one in ten thousand have the skill to distinguish, the society will be all engaged that theirs shall be of the best standard.

Fourthly, That whereas Mr. M'Culla's halfpence are one-fourth part lighter than that kind coined in the time of King Charles II., these gentlemen will oblige themselves to the public, to give their coin of the same weight and goodness with those halfpence, unless they shall find they cannot afford it; and, in that case, they shall beforehand inform the public, show their reasons, and signify how large they can make them without being losers; and so give over or pursue their scheme, as they find the opinion of the world to be. However, I do not doubt but they can afford them as large, and of as good metal, as the best English halfpence that have been coined in the three last reigns, which very much outweighed those of Mr. M'Culla. And this advantage will arise in proportion, by lessening the charge of coinage from thirty per cent. to ten or fifteen, or twenty at most. But I confess myself in the dark on that article; only I think it impossible it should amount to any proportion near thirty per cent.; otherwise the coiners of those counterfeit halfpence called raps[117] would have little encouragement to follow their trade.

But the indubitable advantages, by having the management in such a society, would be the paying eight per cent. instead of sixteen, the being sure of the goodness and just weight of the coin, and the period to be put to any further coinage than what was absolutely necessary to supply the wants and desires of the kingdom; and all this under the security of ten gentlemen of credit and fortune, who would be ready to give the best security and satisfaction, that they had no design to turn the scheme into a job.

As to any mistakes I have made in computation, they are of little moment; and I shall not descend so low as to justify them against any caviller.

The strongest objection against what I offer, and which perhaps may make it appear visionary, is the difficulty to find half a score gentlemen, who, out of a public spirit, will be at the trouble, for no more profit than one per cent. above the legal interest, to be overseers of a mint for five years; and perhaps, without any justice, raise the clamour of the people against them. Besides, it is most certain that many a squire is as fond of a job, and as dexterous to make the best of it, as Mr. M'Culla himself, or any of his level.

However, I do not doubt but there may be ten such persons in this town, if they had only some visible mark to know them at sight. Yet I just foresee another inconveniency; That knavish men are fitter to deal with others of their own denomination; while those who are honest and best-intentioned may be the instruments of as much mischief to the public, for want of cunning, as the greatest knaves; and more, because of the charitable opinion which they are apt to have of others. Therefore, how to join the prudence of the serpent with the innocency of the dove, in this affair, is the most difficult point. It is not so hard to find an honest man, as to make this honest man active, and vigilant, and skilful; which, I doubt, will require a spur of profit greater than my scheme will afford him, unless he will be contented with the honour of serving his country, and the reward of a good conscience.

After reviewing what I had written, I see very well that I have not given any allowance for the first charge of preparing all things necessary for coining, which, I am told, will amount to about _200l._ besides _20l._ per annum for five years rent of a house to work in. I can only say, that, this making in all _300l._, it will be an addition of no more than three per cent. out of _10,000l._

But the great advantages to the public, by having the coinage placed in the hands of ten gentlemen such as I have already described, (if such are to be found,) are these:--

First, They propose no other gain to themselves than one per cent. above the legal interest for the money they advance; which will hardly afford them coffee when they meet at their mint-house.

Secondly, They bind themselves to make their coins of as good copper as the best English halfpence, and as well coined, and of equal weight; and do likewise bind themselves to charge the public with not one farthing for the expense of coinage, more than it shall really stand them in.

Thirdly, They will, for a limited term of seven or ten years, as shall be thought proper upon mature consideration, pay gold and silver, without any defalcation, for all their own coin that shall be returned upon their hands.

Fourthly, They will take care that the coins shall have a deep impression, leaving a rising rim on both sides, to prevent being defaced in a long time; and the edges shall be milled.

I suppose they need not be very apprehensive of counterfeits, which it will be difficult to make so as not to be discovered; for it is plain that those bad halfpence called raps are so easily distinguished, even from the most worn genuine halfpenny, that nobody will now take them for a farthing, although under the great present want of change.

I shall here subjoin some computations relating to Mr. M'Culla's copper notes. They were sent to me by a person well skilled in such calculations; and therefore I refer them to the reader.[118]

Mr. M'Culla charges good copper at fourteenpence per pound: but I know not whether he means avoirdupois or troy weight.

Avoirdupois is sixteen ounces to a pound, 6960 grains. A pound troy weight, 5760 grains. Mr. M'Culla's copper is fourteenpence per pound avoirdupois. Two of Mr. M'Culla's penny notes, one with another, weigh 524 grains. By which computation, two shillings of his notes, which he sells for one pound weight, will weigh 6288 grains. But one pound avoirdupois weighs, as above, 6960 grains. This difference makes 10 per cent. to Mr. M'Culla's profit, in point of weight. The old Patrick and David halfpenny weighs 149 grains. Mr. M'Culla's halfpenny weighs 131 grains. ------ The difference is 18

Which is equal to 10-1/2 per cent. The English halfpenny of King Charles II. weighs 167 grains. M'Culla's halfpenny weighs 131 grains. ------ The difference 36

Which difference, allowed a fifth part, is 20 per cent.

ANOTHER COMPUTATION.

Mr. M'Culla allows his pound of copper (coinage included) to be worth twentypence; for which he demands two shillings.

His coinage he computes at sixpence per pound weight; therefore, he laying out only twentypence, and gaining fourpence, he makes per cent. profit, 20 The sixpence per pound weight, allowed for coinage, makes per cent. 30 The want of weight in his halfpenny, compared as above, is per cent. 10 By all which (viz. coinage, profit, and want of weight) --the public loses per cent. 60

If Mr. M'Culla's coins will not pass, and he refuses to receive them back, the owner cannot sell them at above twelvepence per pound weight; whereby, with the defect of weight of 10 per cent., he will lose 60 per cent.

The scheme of the society, raised as high as it can possibly be, will be only thus:

For interest of their money, per cent. 8 For coinage, instead of 10, suppose at most per cent. 20 For _l.300_ laid out for tools, a mint, and house-rent, charge 3 per cent. upon the coinage of _l.10,000_, 3 ---- Charges in all upon interest, coinage, &c. per cent., 31

Which, with all the advantages above-mentioned, of the goodness of the metal, the largeness of the coin, the deepness and fairness of the impression, the assurance of the society confining itself to such a sum as they undertake, or as the kingdom shall approve; and lastly, their paying in gold or silver for all their coin returned upon their hands without any defalcation, would be of mighty benefit to the kingdom; and, with a little steadiness and activity, could, I doubt not, be easily compassed.

I would not in this scheme recommend the method of promissory notes, after Mr. M'Culla's manner; but, as I have seen in old Irish coins, the words CIVITAS DVBLIN, on one side, with the year of our Lord and the Irish harp on the reverse.

A PROPOSAL

THAT

ALL THE LADIES AND WOMEN OF IRELAND

SHOULD APPEAR CONSTANTLY IN

IRISH MANUFACTURES.

NOTE.

The arguments advanced in this tract are practically repetitions of those already given in previous pieces. Swift laid much stress on the people buying and wearing goods made in Ireland, since in that way the money would remain in the country. In this little tract he winds up with a special appeal to the women of Ireland.

* * * * *

The present text is based on that of the quarto edition (vol. viii.) of 1765, and compared with Faulkner's of 1772.

[T. S.]

A PROPOSAL THAT ALL THE LADIES AND WOMEN OF IRELAND SHOULD APPEAR CONSTANTLY IN IRISH MANUFACTURES.

There was a treatise written about nine years ago, to persuade the people of Ireland to wear their own manufactures.[119] This treatise was allowed to have not one syllable in it of party or disaffection; but was wholly founded upon the growing poverty of the nation, occasioned by the utter want of trade in every branch, except that ruinous importation of all foreign extravagancies from other countries. This treatise was presented, by the grand jury of the city and county of Dublin, as a scandalous, seditious, and factious pamphlet. I forget who was the foreman of the city grand jury; but the foreman for the county was one Doctor Seal, register to the Archbishop of Dublin, wherein he differed much from the sentiments of his lord.[120] The printer[121] was tried before the late Mr. Whitshed, that famous Lord chief-justice; who, on the bench, laying his hand on his heart, declared, upon his salvation, that the author was a Jacobite, and had a design to beget a quarrel between the two nations.[122] In the midst of this prosecution, about fifteen hundred weavers were forced to beg their bread, and had a general contribution made for their relief, which just served to make them drunk for a week; and then they were forced to turn rogues, or strolling beggars, or to leave the kingdom.

The Duke of Grafton,[123] who was then Lieutenant, being perfectly ashamed of so infamous and unpopular a proceeding, obtained from England a _noli prosequi_ for the printer. Yet the grand jury had solemn thanks given them from the Secretary of State.

I mention this passage (perhaps too much forgotten,) to shew how dangerous it hath been for the best meaning person to write one syllable in the defence of his country, or discover the miserable condition it is in.

And to prove this truth, I will produce one instance more; wholly omitting the famous case of the Drapier, and the proclamation against him, as well as the perverseness of another jury against the same Mr. Whitshed, who was violently bent to act the second part in another scene.[124]

About two years ago, there was a small paper printed, which was called, "A Short View of the State of Ireland," relating the several causes whereby any country may grow rich, and applying them to Ireland.[125] Whitshed was dead, and consequently the printer was not troubled. Mist, the famous journalist, happened to reprint this paper in London, for which his press-folks were prosecuted for almost a twelve-month; and, for aught I know, are not yet discharged.[126]

This is our case; insomuch, that although I am often without money in my pocket, I dare not own it in some company, for fear of being thought disaffected.

But, since I am determined to take care that the author of this paper shall not be discovered (following herein the most prudent practice of the Drapier,) I will venture to affirm, that the three seasons wherein our corn hath miscarried, did no more contribute to our present misery, than one spoonful of water thrown upon a rat already drowned would contribute to his death; and that the present plentiful harvest, although it should be followed by a dozen ensuing, would no more restore us, than it would the rat aforesaid to put him near the fire, which might indeed warm his fur coat, but never bring him back to life.

The short of the matter is this: The distresses of the kingdom are operating more and more every day, by very large degrees, and so have been doing for above a dozen years past.

If you demand from whence these distresses have arisen, I desire to ask the following question:

If two-thirds of any kingdom's revenue be exported to another country, without one farthing of value in return; and if the said kingdom be forbidden the most profitable branches of trade wherein to employ the other third, and only allowed to traffic in importing those commodities which are most ruinous to itself[127]; how shall that kingdom stand?

If this question were formed into the first proposition of an hypothetical syllogism, I defy the man born in Ireland, who is now in the fairest way of getting a collectorship, or a cornet's post, to give a good reason for denying it.