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Forcd Circulation of Tokens in the Conquerd Colonies - Nov 1st 1812
The Present high Price of Silver has draind our West Indian Colonies of a Large Part of their Circulatory mediums & Placd their Trade under a Pressure Extremely severe, Ld Bathurst has had their Case several times under Consideration, his Lordship proposd to give them Partial Relief by sending out Copper Coins for the use of the Retale Traders, but under the Present Dearth of Silver his Lordship does not appear to have entertaind an idea of Possibility of Furnishing them with Silver money.
The Project under consideration is a plan for sending out Silver Tokens of 3/- 1/6 & 9d & having put upon them on may probably of # [see Page 2 for insertion] Exchange them for the Coins now current in the Islands at the a Rate of £ s.d. on course for the Gold & 20/10 for the Silver that would Leave a the bonus Proposd to Government as the undertaken is of £5000 upon an £3 issue of £30,000.
This is in Fact offering to the Colonists a certain Portion of Bullion in the Shape of Tokens provided they in Return will give a Larger Quantity of the same article in their Current Coin, a Transaction which is not very likely to be acceded to by the Colonists whose Loss in the operations transactions must be so evident & apparent that no individual could can overlook it, besides, as are the new Coins is by this Plan to be exchangd for Coins actualy now in Circulation the great greivance of want of specie will would not be Releivd. The Chief advantage must be derived from the taking the Fractional Parts of dollars said to be much deteriorated, out of Circulation, in case the Colonists chuse to sell them at the disadvantageous Price offerd for them.