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[Page 9]
Royal Tokens & the Counterfeit of them which much exceeded the True ones in numbers were absolutely driven out of use Circulation
This Example was followed by other persons individuals who however diminishd materialy the Size of the Tokens they Formed, & the in the last 20 years of the eighteenth 18th Century about 250 or 300 Private Tokens were put into Circulation by individuals without any step being taken by Government to suppress or Even to Censure the Custom. The Issue of Boultons Royal Copper Tokens however which for the first time put the business upon a proper footing by giving the Subject abandoning all view of Profit on the Part of Government Soon drove the whole of these Private Peices out of Circulation away
in 1800 [?] the Scarcity of Silver Coin having become very General, by the People hoarding under the apprehension of an invasion, even the Abominable Shillings & Sixpences now in Circulation, Mr Boulton proposed to Government that he would at the very cheap Rate of one farthing Each, Convert Spanish dollars into Tokens, one of his Pattern Peices was Shown to the King & his Majesty was graciously Pleasd to approve it
The Commee [Committee] of the Privy Council for Coin having taken the subject into their Consideration