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[Page 2]
in 1798 Mr. Boulton was Employd by the Treasury to Strike Copper Tokens for Circulation at his newly invented mint at Soho Near Birmingham, the Principles on which he was directed to Proceed were those which had been recommended to their Lordships by the Lords of the Commee [Committee] of P.C. for Coin was That the value of the Tokens when put into Circulation should be as nearly as Possible Equal to the Cost of the copper of which they were made added to & the Charge of Converting it into Coin, of Course that the advantage of £40 a Ton which had till that time been always taken at the Royal Mint on the Coinage of Copper should Ceased & no other profit be was in any shape made on the issue of it beyond a fair remuneration for the Cost of Coinage which Mr. Boulton was able by the use his Powerful machinery to Perform at a Rate considerably Cheaper than Could be done by manual labor or by the use of any Less improved machinery.
Copper was at that time nearly at the same price as it is at present & this allowd the first tokens to be Issued at the Rate of 16 Penny or 32 half penny pieces to the pound averdupoise [avoirdupois] the public complaind of the great weight of these Peices & were scarcely reconcild to them it when the Sudden & Excessive rise of Copper made a Reduction necessary & in due time Reduced the weight of the Tokens made according to the Principle Laid down by the Lords of the Commee for Coin one third Part making the Penny Peices 24 instead of 16 & the halfpence 48 instead of 32 to the Pound of Copper
of the heavier Copper Tokens Mr. Boulton Coind 1819 Tons of the Lighter he will when he has compleated his Present Contract in