Act, 14 August 1700, Edinburgh

Judicial Proceeding, 10 December 1700, Edinburgh

Att Edinburgh The Fourteenth day of August Jaj viic years

A1700/8/211

Act

Act In Favours of the African and Indian Company

Anent the Petition given in to his Majesties high Commissioner and the Lords of his Majesties privy Councill, By the Court of Directors of the Company of Scotland, Trading to Africa and the Indies. Shewing, That their Petitioners haveing lately gott home a Certain Quantity of Gold-Dust, from the Coast of Africa, do humbly Conceave it to be for the Honour and Interest of the Kingdom, That the same be immediatly coined as being the only means by which, To hinder its Exportation. That as it is The Constant practice in other nations To honour the Importers of any Considerable quantity of Gold or Bullion, but more Especialy Companies, with a mark of distinction in the Coin, having Special relation to the Coat of armes of such Importers, It is Humbly proposed, That the said Company’s Crist may be put upon all the Coin, which shall be made of the said Gold-Dust, or out of any other Bullion, That may Thereafter be Imported by the Company, and that Speedy orders may be directed accordingly to the Officers of his majesties mint, for that Effect, Lest That through any delay or neglect thereof, The petitioners may find themselves under a necessity of Exporting the same, To the Dishonour and Loss of the Nation, as the Said Petition Signed in name presence and by warrant of the Court of Directors by Francis Scott, I.P.C.D. Bears. Which Petition Being upon The Eleventh day of July last, Read in presence of his Majesties said Commissioner, and Lords of privy Councill, They Remitted To a Committee of their own number, To Consider the same, And Thereafter the said Petition being again Read, in presence of the saids Lords, They by their Deliverance therupon, of the date the Eighteenth day of the said moneth of July last Have allowed and heirby allowes the said Company’s Crist To be put upon all the Gold to be Coyned of this present above parcell of Gold only, And have given and heirby gives order warrand and direction, To the officers of his Majesties Mint for that Effect, And have appointed and heirby appointes, That the peices To be coyned thereof be Six pounds or Twelve pounds Scots per peice,2 Thereafter the forsaid Committy haveing accordingly mett upon the Eight day of August Instant They made their Report to the saids Lords of privy Councill Bearing That Sir Francis Scott of Thirlestoune and Gilbert Stewart merchant having Compeared before them In behalf of the Directors of the said Company, And being demanded what Profite, They Craved off the parcell of Gold They offered to be Coyned, It was agreed That the Company should have Ten per Cent of profitt, which being setled It was the opinion of the Committy, That the Gold should be Coyned at twelve pound peices and halfes or doubles accordingly of Intrinsick value deduceing and allowing upon the said value the forsaid Ten per Cent. of profitt, And That the Standart be observed of the Fynes as it is Established, And That the Company have free Coinadge of their Gold, And That the officers of the mint have of allowance for coinage Three Hundereth pounds Scots per stone, And so proportionally for less or more. And his Majesties high Commissioner and Lords of his majesties privy Councill having upon the nynth day of august Instant3 Considered the above Report, anent the Gold Dust They have approved and heirby approves of the Same with this difference, That all the Gold to be Coyned, shall be Coyned in Six pound and Twelve pound peices, and none of them in Twenty Four pound peices, And it was Remitted by the forsadi Committee, To James Cockburn late Deacon of the Goldsmiths, and Mr John Borthwick Essay master of his Majesties Mint To Consider what allowance should be given per Cent of dimunition from the passing value to the reall of the said Gold when coyned and to give their Opinion and Report accordingly, Conform whereunto upon the said nynth day of August Instant. There was A Report Given in, To The Saids Lords of privy Councill By James Cockburn Gold-Smith and Mr John Borthwick Essay master of his majesties mint Bearing That the Lords of the forsaid Committee having agreed That The Gold be Coined in Twelve and Six pound peices and for Encouradgement to the Company and Inbringers of the Gold, That there be Ten per Cent of diminution, from the passing value to the Reall, And having Referred the adjusting of the Weight to them undersubscriveing, They Theirby gave their opinion therin, That one pound Four Shilling Scots which is 1/10 of the said 12 £, Being deduced there from, There Remaines 10// 16// 00// for the Reall value of the said 12 Lib peece, And Consequently Every peice must weight (of Standart Gold 22 Carracts Fyne) 3 Drops 21 3/5 grams, 36 grams being Reckoned to each Drop. Sic Subscribitur Adam Cockburn. Mr John Borhwick. And his Majesties high Commissioner and Lords of his majesties privy Councill having upon the nynth day of august Instant Considered the said Report given in to them by the said James Cockburn, and Mr John Borthwick, They have approved and heirby approves of the Samen, And have appointed And heirby appointes The peices of Gold presently to be Coyned, To have the Impressiones Following viz The Face of King William with the Crist of the African Companys armes under the same upon the one Side, with this motto Gulielmus Secundus Dei Gratia, And The Reverss Syde To have the armes of the Four Kingdoms with his Majesties propper armes in the Midle thereupon all in one Sheild. And The Letters W. upon the one Syde and R. upon the other syde without the sheild, with a Royall Crown above Each of the Saids Letters, And This motto about the Reverss Syde, Mag: Britt: Fra: et Hib: Rex, and the year of God, And appoints the officers of the mint and the Deacon of the Gold-Smiths and their Essay master, To attend the Councill upon Twesday next To Receave the Councills Commands anent the Remeids of the Gold to be Coyned. And his Majesties high Commissioner and Lords of his Majesties privy Councill, Having This day Considered The saids Two Reports anent the Gold Dust, They have allowed and heirby allowes the same to be given out by the officers of the mint according to the Remeids for Fyness and weight following. Viz: Albeit the same should Fall out accidentaly To be Fyner or Courser, Then the Standart of Fyness mentioned in the former Reports, Two grams, and one grain heavier or lighter as to the weight and That for Coynadge of Each peice of the Species of the gold Formerly ordered, To be Coyned And it is Expressly provided, That the officers of the mint shall be no means work or Fabricat the Gold, with Regaird to the Remeids aforsaid as they will be answerable. Extracted.

Att Edinburgh The Fourteenth day of August Jaj viic years

A1700/8/211

Act

Act In Favours of the African and Indian Company

Anent the Petition given in to his Majesties high Commissioner and the Lords of his Majesties privy Councill, By the Court of Directors of the Company of Scotland, Trading to Africa and the Indies. Shewing, That their Petitioners haveing lately gott home a Certain Quantity of Gold-Dust, from the Coast of Africa, do humbly Conceave it to be for the Honour and Interest of the Kingdom, That the same be immediatly coined as being the only means by which, To hinder its Exportation. That as it is The Constant practice in other nations To honour the Importers of any Considerable quantity of Gold or Bullion, but more Especialy Companies, with a mark of distinction in the Coin, having Special relation to the Coat of armes of such Importers, It is Humbly proposed, That the said Company’s Crist may be put upon all the Coin, which shall be made of the said Gold-Dust, or out of any other Bullion, That may Thereafter be Imported by the Company, and that Speedy orders may be directed accordingly to the Officers of his majesties mint, for that Effect, Lest That through any delay or neglect thereof, The petitioners may find themselves under a necessity of Exporting the same, To the Dishonour and Loss of the Nation, as the Said Petition Signed in name presence and by warrant of the Court of Directors by Francis Scott, I.P.C.D. Bears. Which Petition Being upon The Eleventh day of July last, Read in presence of his Majesties said Commissioner, and Lords of privy Councill, They Remitted To a Committee of their own number, To Consider the same, And Thereafter the said Petition being again Read, in presence of the saids Lords, They by their Deliverance therupon, of the date the Eighteenth day of the said moneth of July last Have allowed and heirby allowes the said Company’s Crist To be put upon all the Gold to be Coyned of this present above parcell of Gold only, And have given and heirby gives order warrand and direction, To the officers of his Majesties Mint for that Effect, And have appointed and heirby appointes, That the peices To be coyned thereof be Six pounds or Twelve pounds Scots per peice,2 Thereafter the forsaid Committy haveing accordingly mett upon the Eight day of August Instant They made their Report to the saids Lords of privy Councill Bearing That Sir Francis Scott of Thirlestoune and Gilbert Stewart merchant having Compeared before them In behalf of the Directors of the said Company, And being demanded what Profite, They Craved off the parcell of Gold They offered to be Coyned, It was agreed That the Company should have Ten per Cent of profitt, which being setled It was the opinion of the Committy, That the Gold should be Coyned at twelve pound peices and halfes or doubles accordingly of Intrinsick value deduceing and allowing upon the said value the forsaid Ten per Cent. of profitt, And That the Standart be observed of the Fynes as it is Established, And That the Company have free Coinadge of their Gold, And That the officers of the mint have of allowance for coinage Three Hundereth pounds Scots per stone, And so proportionally for less or more. And his Majesties high Commissioner and Lords of his majesties privy Councill having upon the nynth day of august Instant3 Considered the above Report, anent the Gold Dust They have approved and heirby approves of the Same with this difference, That all the Gold to be Coyned, shall be Coyned in Six pound and Twelve pound peices, and none of them in Twenty Four pound peices, And it was Remitted by the forsadi Committee, To James Cockburn late Deacon of the Goldsmiths, and Mr John Borthwick Essay master of his Majesties Mint To Consider what allowance should be given per Cent of dimunition from the passing value to the reall of the said Gold when coyned and to give their Opinion and Report accordingly, Conform whereunto upon the said nynth day of August Instant. There was A Report Given in, To The Saids Lords of privy Councill By James Cockburn Gold-Smith and Mr John Borthwick Essay master of his majesties mint Bearing That the Lords of the forsaid Committee having agreed That The Gold be Coined in Twelve and Six pound peices and for Encouradgement to the Company and Inbringers of the Gold, That there be Ten per Cent of diminution, from the passing value to the Reall, And having Referred the adjusting of the Weight to them undersubscriveing, They Theirby gave their opinion therin, That one pound Four Shilling Scots which is 1/10 of the said 12 £, Being deduced there from, There Remaines 10// 16// 00// for the Reall value of the said 12 Lib peece, And Consequently Every peice must weight (of Standart Gold 22 Carracts Fyne) 3 Drops 21 3/5 grams, 36 grams being Reckoned to each Drop. Sic Subscribitur Adam Cockburn. Mr John Borhwick. And his Majesties high Commissioner and Lords of his majesties privy Councill having upon the nynth day of august Instant Considered the said Report given in to them by the said James Cockburn, and Mr John Borthwick, They have approved and heirby approves of the Samen, And have appointed And heirby appointes The peices of Gold presently to be Coyned, To have the Impressiones Following viz The Face of King William with the Crist of the African Companys armes under the same upon the one Side, with this motto Gulielmus Secundus Dei Gratia, And The Reverss Syde To have the armes of the Four Kingdoms with his Majesties propper armes in the Midle thereupon all in one Sheild. And The Letters W. upon the one Syde and R. upon the other syde without the sheild, with a Royall Crown above Each of the Saids Letters, And This motto about the Reverss Syde, Mag: Britt: Fra: et Hib: Rex, and the year of God, And appoints the officers of the mint and the Deacon of the Gold-Smiths and their Essay master, To attend the Councill upon Twesday next To Receave the Councills Commands anent the Remeids of the Gold to be Coyned. And his Majesties high Commissioner and Lords of his Majesties privy Councill, Having This day Considered The saids Two Reports anent the Gold Dust, They have allowed and heirby allowes the same to be given out by the officers of the mint according to the Remeids for Fyness and weight following. Viz: Albeit the same should Fall out accidentaly To be Fyner or Courser, Then the Standart of Fyness mentioned in the former Reports, Two grams, and one grain heavier or lighter as to the weight and That for Coynadge of Each peice of the Species of the gold Formerly ordered, To be Coyned And it is Expressly provided, That the officers of the mint shall be no means work or Fabricat the Gold, with Regaird to the Remeids aforsaid as they will be answerable. Extracted.

1. NRS, PC1/52, 147-9.

2. Sic.

3. The phrase ‘upon the nynth day of august Instant’ is an insertion.

1. NRS, PC1/52, 147-9.

2. Sic.

3. The phrase ‘upon the nynth day of august Instant’ is an insertion.