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1803
Antigua
Abstract of an act of assembly
That any one to whom a Joe shall be tenderd for the value of £3.6- shall if he suspects it to be made of debasd metal or to be reduced by clipping to Less than Eight Penny weight Troy shall be empowerd to Cut or break Such peice & in Case it is Base Counterfeit or diminishd metal the Loss shall fall on the Person who tenderd it but if good metal it shall be taken by weight.
Two Justices of the Peace to determine the Question of good or bad metal & they may Call in the assistance of Some Person Skilld in the Knowledge of metals.
The Treasurer of the Island shall not take in Payment any Joes of Less than 8 dwt. & shall Cut & break all such as are made of inferior gold but he may take in Payment such peices of Coin as appear to him pure tho diminishd in weight Rating their value at their respective weights.
The Treasurer & his deputy the Provost Marsh & his deputy the Powder officer & the Church wardens of Parishes shall if they pay or Receive any Joes by Tale for £3.6. not weighing 8 dwt. may Forfeit the Sum of £100.
Provided that old Parts of a Joe & all Gold Coins of Great Britain France Spain & Portugal not being Pluggd or added to may be receivd by all the aforesaid Persons at the rate of 8T Currency for Each Penny wt. & in Proportion for Lesser weights & all Pluggd money at the Rate of 7s/ & if any one shall plug money with gold not of the of a Less Standard than that of the Coin so Plugged he shall forfeit £300 & if unable to pay the same shall be imprisond 6 Calendar months.
if any Person in the Island shall Coin any Peice of Gold or Silver money now current in the Island or that may hereafter be Current or knowingly import or Cause to be imported any such money or any money not Coind under the authority of some Kingdom or State or knowingly utter or Endeavour to Pass the Same in Payment such Person shall forfeit £500 or be imprisond 12 months.
Ld Torrington States that in this bill Gold Coins which may circulate at 7/ a Pennyweight are directed be taken at 8/.
The danger of this measure is Evident if the Islands bid against each other for a Circulating medium by Raising the value of Coins much mischief must arise from the Competition.
Dr Marchant admits that the true value of a dollar is