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[Page 7]
of the bad which at least Equals it in amount will be at once annihilated & in fact the value of £515,196 in copper taken out of the hands of the Public being not very much less than one half of the whole stock
under this view of the subject it appears that a considerable part of the old tokens to be withdrawn may be replaced by new ones without causing a pressure upon the public & that this ought to be done if practicable is evident from the current state of the copper market which occasions most many of the most productive copper mines in Cornwell to work at a loss & would not if 1000 Tons of Copper was introduced into it be able to maintain Even the Present inadequate prices
Let us then look at the question in another Point of View by supposing that the whole of the good Copper Tokens taken out of circulation may be properly replacd by an issue of new Copper Tokens which would still leave a diminution on the whole Stock Equal to of the value of £257,598 being the value of the Counterfeits which must be driven immediately into the melting Pot & will no doubt produce some evil effect upon the general copper market in proportion to their weight which is this however is on an average very much below that of the mint Tokens
The profit allowd to government by Mr. Boulton upon the issue of his Tokens is at present now owing to the extremely reducd price of Copper £60 a Ton. This upon 1400 1200 Tons only which would be wanted to not quite Replace 1200 Tons of old if so many are found in circulation would amount to £72,000 84,000 & Reduce the gross loss to £ £90,03778,006