Draft of a report titled 'Bankers Money & Notes', 18 March1805 (Series 84.10) - No. 0010

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appeard were averse to making the Circulation of these Tokens an act of Government, but appear to give their Consent to the measure, in Case the Bank Should ask it, which this was done & these (the first silver Tokens that Ever were put into Circulation) were issued By the Bank who & the Governors made themselves answerable for Receiving them again at the Price at which they were issued about ¼d Each more than their intrinsic value and with the Consent of their majesties Privy Council & they were afterwards recognised by an act of Parliament to Provide a Punishment for those who Should forge them See Geo 3. Chap.

I have thus given a Short Scetch of the history of Tokens, in order to Show that the Issue of them by bodies of men & Even by individuals does not appear to be illegal & that the Last issue of Silver Token ones was recognised & approved by the Privy Council & Recognised by Parliament

To have recommended the minute which Mr Chalmers will Lay before your Lordship on the Bahama Coinage, without Some Explanation, would have been presumptuous in me, as the Privy Council have so often deliberated upon proposals