1816: 56 George 3 c.68: An Act to provide for a New Silver Coinage, and to regulate the Currency of the Gold and Silver Coin of this Realm.

[22d June 1816.]

WHEREAS the Silver Coins of the Realm have, by long Use and other Circumstances, become greatly diminished in Number and deteriorated in Value, so as not to be sufficient for the Payments required in Dealings under the Value of the Current Gold Coins, by Reason whereof a great Quantity of Light and Counterfeit Silver Coin and Foreign Coin has been introduced into Circulation within this Realm; and the Evils resulting therefrom can only be remedied by a new Coinage of Silver Money, to be made and issued under proper Regulations for maintaining its Value and preserving the same in Circulation; Be it therefore enacted by The King’s Most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same,

[18 Car. 2. c. 5. §1. in part repealed.]

That from and after the passing of this Act, so much of an Act made in the Eighteenth Year of the Reign of His late Majesty King Charles the Second, intituled An Act for encouraging of Coinage, and also so much of all and every other Act and Acts as provide and enact that whatsoever Person or Persons, Native or Foreigner, Alien or Stranger, should bring any Foreign Coin, Plate or Bullion of Silver, in mass, molten or alloyed, or any Sort or Manufacture of Silver, into His Majesty’s Mint or Mints within the Kingdom of England, to be there melted down and coined into the Current Coins of this Kingdom, should have the same there allayed, melted down and coined with all convenient Speed, without any Defalcation, Diminution or Charge for the Assaying, Coinage or Waste in Coinage, so as that for every Pound Troy of Sterling or Standard Silver that should be brought in and delivered by him or them to be assayed, melted down and coined as aforesaid, there should be delivered out to him or them respectively a Pound Troy of the Current Coins of this Kingdom, of Sterling or Standard Silver, and so proportionally for a greater or lesser Weight, or more or less, in Proportion to the Excess or Deficiency in Fineness of any such Bullion, shall be and the same is and are hereby repealed.

[7 & 8 W. 3. c. 1. §2. in part, and other Acts as herein mentioned and]

II. And be it further enacted, That so much of an Act made in the Seventh and Eighth Years of the Reign of His late Majesty King William the Third, intituled An Act for remedying the ill State of the Coin of the Kingdom; and also so much of all and every other Act and Acts as declare, enact or provide, that the Weight and Fineness prescribed by any Indenture theretofore made with His Majesty’s Master and Worker for making of Silver Monies at the Tower of London, shall be and remain to be the Standard of and for the lawful Silver Coin of the Kingdom;

[14 G. 3. c. 42. §2. in part repealed.]

and also so much of an Act made in the Fourteenth Year of His present Majesty’s Reign, intituled An Act to prohibit the Importation of Light Silver Coin of this Realm from foreign Countries into Great Britain or Ireland, and to restrain the Tender thereof beyond a certain Sum, as enacts that any Silver Coin of the Realm, less in Weight than after the Rate of Sixty two Shillings for every Pound Troy, shall be forfeited; and

A.D. 1816. 56° GEO. III. C. 68. 385

of any Act or Acts for reviving or continuing or making perpetual the Provisions of the said last recited Act in this respect, shall, from and after the passing of this Act, be and the same is and are hereby repealed.

[38 G. 3. c. 59 §2. repealed.]

III. And Whereas by an Act made in the Thirty eighth Year of His present Majesty’s Reign, intituled An Act to revive and continue, until the First Day of January One thousand seven hundred and ninety nine, an Act passed in the Fourteenth Year of the Reign of His present Majesty, Chapter forty two; videlicet, on the Thirteenth Day of January One thousand seven hundred and seventy four, intituled An Act to prohibit the Importation of Light Silver Coin of this Realm from foreign Countries into Great Britain or Ireland, and to restrain the Tender thereof beyond a certain Sum, and to suspend the coining of Silver, after reciting that His Majesty had appointed a Committee of His Privy Council to take into Consideration the State of the Coin of this Kingdom, and the present Establishment and Constitution of His Majesty’s Mint, and that Inconvenience might arise from any Coinage of Silver until such Regulations might be framed as should appear necessary, and that from the then low Price of Silver Bullion, owing to temporary Circumstances, a small Quantity of Silver Bullion had been brought to the Mint to be coined, and that there was reason to suppose that a still further Quantity might be brought, and that it was therefore necessary to suspend the Coinage of Silver for the present, it was enacted, that from and after the passing of the said Act, no Silver Bullion should be coined at the Mint, nor should any Silver Coin that might have been coined there be delivered, any Law to the contrary in any wise notwithstanding: And whereas Regulations with respect to a Coinage of Silver cannot be carried into Effect by reason of the said Enactment in the said last recited Act Be it therefore enacted, That from and after the passing of this Act, so much of the said last recited Act as enacts that no Silver Bullion shall be coined at the Mint, and that no Silver Coin that may have been coined there shall be delivered, shall be and the same is hereby repealed.

[The Pound Troy of Standard Silver Eleven Ounces Two Pennyweights fine &c. may be coined into Sixty six Shillings.]

IV. And be it further enacted, That from and after the passing of this Act, it shall and may be lawful for His Majesty’s Master and Worker of the Mint, at His Majesty’s Mint in London, to coin or or cause to be coined any Silver Bullion, which, at any time before or after the passing of this Act, shall have been or shall be brought to or delivered or deposited at the said Mint, into Silver Coins of a Standard and Fineness of Eleven Ounces Two Pennyweights of fine Silver, and Eighteen Pennyweights of Alloy in the Pound Troy, and in Weight after the Rate of Sixty six Shillings to every Pound Troy, whether the same be coined in Crowns, Half Crowns, Shillings or Sixpences, or Pieces of a lower Denomination; any thing in any Act or Acts of Parliament in force in Great Britain or Ireland respectively, immediately before the passing of this Act, or any thing in any Indenture with His Majesty’s Master or Worker of the said Mint for the time being, or any Law, Usage or Custom whatsoever to the contrary thereof in any wise notwithstanding.

[Old Silver Coin of the Realm brought to the Mint, may be exchanged for its full nominal Value in new Silver Coin.]

V. And be it further enacted, That from and after such Days and during such Period of time as shall be named and appointed in and by any Proclamation or Proclamations which shall be made and issued for that Purpose, by or on behalf of His Majesty, by and with the Advice of His Majesty’s Privy Council, it shall and may be lawful for any Person or Persons to bring and deliver into the said Mint any Silver Coin of this Realm heretofore coined and current, which shall by any Officer or Officers of the Mint to be appointed for that Purpose by the Master of the said Mint, be judged and deemed to be such Silver Coin of the Realm; and that there shall be delivered out from the said Mint, to every Person bringing in and delivering such Old Silver Coin a Sum in New Silver Coins, of Crowns, Half Crowns, Shillings and Sixpences, to be coined pursuant to the Directions of this Act, equal to the Amount of the Silver Coins so brought in and delivered as aforesaid, according to the respective Denominations of such Silver Coins; so that every such Person shall have and receive a Sum of Money equal in its Denomination in the New Silver Coinage, to the Sum for which the Old Silver Coin brought in shall have passed, according to the Denomination thereof; and all such Old Silver Coin so to be brought and delivered into and received at the said Mint, shall from time to time be melted down and coined into New Silver Coins of this Realm, according to the Directions of this Act respecting Money to be coined from any Silver Bullion brought into or deposited at the said Mint in manner aforesaid.

[Treasury may appoint Persons to receive Old Silver Coin, and exchange same for new, at any Places throughout the Kingdom.]

VI. Provided always, and be it enacted, That during the Period mentioned in any such Proclamation or Proclamations, it shall and may be lawful for the Lord High Treasurer, or for the Commissioners of His Majesty’s Treasury for the time being, to appoint any Number of Persons at any Place or Places throughout the United Kingdom, for the Purpose of receiving all such Old Current Silver Coin of the Kingdom, as shall appear to any Person or Persons who shall be appointed by the Master of the Mint for the Purpose of inspecting the same, to be such Old Current Silver Coin, and for exchanging the same for New Silver Coin, according to their respective Denominations in manner aforesaid; and that such Persons shall give such Security, and shall render such Account, and shall be subject to, and shall obey all such Rules, Regulations, Restrictions and Directions, as the Lord High Treasurer or Commissioners of the Treasury shall in that behalf order and direct; and that all such Old Current Silver Coin, so to be received by any such Person so to be appointed, shall be transmitted in such manner and at such times as the said Lord High Treasurer or Commissioners of the Treasury shall direct, to His Majesty’s Mint in London, there to be melted down and coined in manner aforesaid.

[After the End of the Period appointed for receiving Old Coin of the Realm at the Mint, all Old Coin deficient in Value may be cut by the Person to whom it shall be tendered.]

VII. And be it further enacted, That from and after the Expiration of the Period to be mentioned in any such Proclamation or Proclamations as aforesaid, it shall and may be lawful for any Person or Persons whomsoever, and all Persons are hereby authorized and required, to cut, break or deface, or cause to be cut, broken or defaced, any Piece or Pieces of Old Silver Coin of this Realm current at any time before the passing of this Act, which shall be tendered to them or any of them in Payment, and which shall be of less Value than the Denomination thereof shall import, and the Person tendering the same shall bear the Loss; but if any such Piece so cut, broken or defaced, shall appear to be of the full Value which its Denomination shall import, the Person who shall cut, break or deface the same, shall and he is hereby required to take and receive the same at the Rate it was coined for; and if any Question or Dispute shall arise whether the Piece so cut be of less Value than its Denomination shall import, such Question or Dispute shall be heard and finally determined by the Mayor, Bailiff or Bailiffs, or other Chief Officer of any City or Town Corporate where such Tender shall be made; and if such Tender shall be made out of any City or Town Corporate, then by some Justice of the Peace of the County inhabiting or being near the Place where such Tender shall be made;

[Evidence on Oath.]

and the said Mayor or other Chief Officer and Justice of the Peace respectively, shall have full Power and Authority to summon any Person or Persons to appear and give Evidence before him or them, and to administer an Oath, as he shall see convenient to any Person for determining any Questions relating to the Value and lawful Currency of any such Piece of Coin.

VIII. And Whereas it is expedient that Provision should be made for the Loss arising from the Deficiency and Recoinage of the Silver Coin of the Realm;

[Proviso for Loss arising from Deficiency and Recoinage of Silver Coin.]

Be it therefore enacted, That it shall and may be lawful for the Lord High Treasurer or the Commissioners of His Majesty’s Treasury for the time being, or any Three or more of them, and he and they is and are hereby authorized and required to issue and apply or cause to be issued and applied, from time to time as they shall see Occasion, such Sum and Sums of Money, not exceeding the Sum of Five hundred thousand Pounds, out of any of the Aids or Supplies granted for the Year One thousand eight hundred and sixteen, as shall appear to be the Amount of any such Deficiency or Deficiencies, according to such Accounts to be from time to time delivered to the said Lord High Treasurer or Commissioners of the Treasury, by the Matter and Worker of His Majesty’s Mint, as the said Lord High Treasurer or Commissioners of the Treasury shall for that Purpose direct and require; and likewise any such Sum and Sums of Money as shall appear to them to be requisite to defray all Charges and Expences in melting down such deficient Money, and casting the same into Ingots and assaying the same; and also to advance such Sum and Sums of Money as they shall see Occasion from time to time, to the Matter and Worker of His Majesty’s Mint for and towards the several Expences to be incurred in and about the Coinage of Silver Coin under this Act; and also to grant a reasonable Reward to such Persons as shall be appointed as aforesaid throughout the Kingdom, for receiving Old Silver Coin and exchanging the same for New Silver Coin, and to all other Officers, Clerks and Persons employed in and about the several matters relating to this Act; and to discharge all such other incidental Expences as shall occasionally attend the Execution of this Act.

[After a Day to be appointed by Proclamation, Silver Coin and Bullion may be brought to the Mint, to be coined at the Rate of Sixty six Shillings per Pound Troy of Standard Silver, Eleven Ounces Two Penny-weights fine, &c.;]

IX. And be it further enacted, That from and after such Day as shall be named and appointed in and by any Proclamation which shall be made and issued for that Purpose, by or on behalf of His Majesty, by and with the Advice of His Majesty’s Privy Council, it shall and may be lawful for any Person or Persons, Native or Foreigner, to bring any Foreign Coin, or any other Coin, or reputed Coin, Plate or Bullion of Silver, in mass, molten or alloyed, or any Sort of Manufacture of Silver, and to deliver the same at His Majesty’s Mint in London, to be there melted down and coined into Current Silver Coins of this Kingdom; and such Silver Coin, Plate, Bullion or Manufacture so brought or delivered, shall be assayed at the said Mint, and melted down and coined with all convenient Speed, into Silver Coins of a Standard in Fineness of Eleven Ounces Two Pennyweights of fine Silver, and Eighteen Pennyweights of Alloy in the Pound Troy, and in Weight after the Rate of Sixty six Shillings to every Pound Troy, whether the same be coined in Crowns, Half Crowns, Shillings or Sixpences, or Pieces of a lower Denomination; and that as soon as conveniently may be after any such Silver Coin, Plate, Bullion or Manufacture respectively, so brought to the Mint, shall be melted and assayed, there shall be delivered to the Person bringing in and delivering the same a Sum in Silver Coins, of Crowns, Half Crowns, Shillings or Sixpences, after the Rate of Sixty two Shillings of the Standard Fineness and Weight hereinbefore mentioned, for every Pound Troy of Standard Silver of the Fineness aforesaid, by such Person brought and delivered into the Mint, and so proportionably for a greater or lesser Weight;

[of which Sixty two Shillings per Pound shall be delivered to the Party bringing in the Bullion, and Four Shillings retained for Assaying, Loss and Coinage.]

and that for the Defalcation or Diminution and for the Charge for the Assaying, Coinage and Waste in Coinage of all such Silver so to be brought to the Mint as aforesaid, there shall and may be retained at the said Mint the Sum of Four Shillings of the Standard and Weight aforesaid, for every Pound Troy of such Standard Silver so brought in and delivered, and so proportionably for any greater or lesser Weight, making in the whole after the Rate of Sixty six Shillings for every Pound Troy of such Standard Silver; any thing in any Act or Acts in force in Great Britain or Ireland, immediately before the passing of this Act, to the contrary in any wise notwithstanding.

[Such Sums of 4s. per Pound applied to Expence of Coinage, and Surplus (if any) carried to the Consolidated Fund.]

X. And be it further enacted, That an Account shall be kept at the Mint of the Amount of all Sums of Money arising from the Allowance of Four Shillings for every Pound Troy of Silver to be retained at the said Mint, in manner aforesaid; and that all such Sums so retained shall in the first Place be applied in or towards the Payment of the Expences of the coining of such Silver; and the Surplus thereof (if any) after the Payment of such Expences, shall be carried to and made Part of the Consolidated Fund.

XI. And Whereas at various times heretofore the Coins of this Realm of Gold and Silver have been equally a legal Tender for Payments to any Amount, and great Inconvenience has arisen from both those precious Metals being concurrently the Standard Measure of Value, and equivalent for Property; and it is expedient that the Gold Coin made according to the Indentures of the Mint should henceforth be the sole Standard Measure of Value and legal Tender for Payment, without any Limitation of Amount, and that the Silver Coin should be a legal Tender to a limited Amount only, for the Facility of Exchange and Commerce;

[Gold Coin declared the only legal Tender;]

Be it therefore enacted, That from and after the passing of this Act, the Gold Coin of this Realm shall be and shall be considered and is hereby declared to be the only legal Tender for Payments (except as hereinafter provided) within the United Kingdom of Great Britain and Ireland;

[being the Weight and Fineness of the Mint Indenture.]

and that the said Gold Coin shall hold such Weight and Fineness as are prescribed by the present Indenture with His Majesty’s Master and Worker of the Mint for making Gold Monies at His Majesty’s Mint in London, and with such Allowance, called the Remedy, as is given to the said Master by the said Indenture; which

A.D. 1816. 56° GEO. III. C. 68. 589

Weight and Fineness are hereby declared to be and shall remain to be the Standard of and for the lawful Gold Coin of the Realm, so far as relates to Gold Coins of the Denominations at present in use, and specified in the said Indenture; and in case any Gold Coin or Coins of any other Denomination shall hereafter be coined at the said Mint under any future Indenture, such Gold Coin and Coins shall hold the like Standard in Fineness as the Gold Coins of the present Denominations, and shall hold such Weight as shall be proportionate to the Weight of the present Gold Coins, according to the Value for which such Gold Coin or Coins of any new Denomination shall be declared to be current.

XII. And Whereas it is expedient that the Silver Coin of the Realm should be a legal Tender by Tale, according to its Denomination, to any Amount not exceeding the Sum of Forty Shillings; Be it therefore enacted,

[14 G. 3. c. 42. §1. and other Acts as herein mentioned, repealed after a Day to be named in The King’s Proclamation for that Purpose.]

That from and after such Day as shall be for that Purpose named in any Proclamation, which at any time after the passing of this Act shall be made and issued, by or on behalf of His Majesty, with the Advice of His Majesty’s Privy Council, so much and such Parts of the Act made in the Fourteenth Year of His present Majesty’s Reign, intituled An Act to prohibit the Importation of Light Silver Coin of this Realm from Foreign Countries into Great Britain or Ireland, and to restrain the Tender thereof beyond a certain Sum, as enacts or provides or may be construed to enact or provide, that any Tender in Silver Coin of the Realm shall be legal to the Amount of Twenty five Pounds, or a Tender for any greater Sum, according to its Value by Weight, and also so much of any Act and Acts whereby the said last recited Act is continued, revived or made perpetual, shall be, and the same is and are hereby repealed accordingly:

[No Tender of Silver Coin legal beyond 40s.]

And that from and after such Day as shall be for that Purpose named in any such Proclamation to be made and issued as aforesaid, no Tender of Payment of Money made in the Silver Coin of this Realm, of any Sum exceeding the Sum of Forty Shillings at any one time, shall be reputed a Tender in Law, or allowed to be a legal Tender within the United Kingdom of Great Britain and Ireland, either by Tale or Weight of such Silver Coin or otherwise howsoever; any thing in the said recited Act of the Fourteenth Year of His present Majesty’s Reign, or in any other Act or Acts in force immediately before the passing of this Act, or any Usage or Custom to the contrary in anywise notwithstanding.

[Current Gold Coin shall not be received or paid for more or less than its Value, according to its Denomination.]

XIII. And be it further enacted, That from and after the passing of this Act, no Person shall by any Means, Device, Shift or Contrivance whatsoever, receive or pay for any Gold Coin lawfully current within the United Kingdom of Great Britain and Ireland, any more or less in Value, Benefit, Profit or Advantage, than the true lawful Value which such Gold Coin doth or shall by its Denomination import; nor shall utter or receive any Piece or Pieces of Gold Coin of this Realm, at any greater or higher Rate or Value, nor at any less or lower Rate or Value than the same shall be current for in Payment, according to the Rates and Values declared and set upon them pursuant to Law; and that every Person who shall offend herein shall be deemed and adjudged guilty of a Misdemeanor, and being thereof convicted by due course of Law, shall suffer Imprisonment for the Term of Six Calendar Months, and shall find Sureties for his or her good Behaviour for One Year more, to be computed from the End of the said Six Months;

[Second Offence. Punishment.]

and if the same Person shall afterwards be convicted of the like Offence, such Person shall for such Second Offence suffer One Year’s Imprisonment, and find Sureties for his or her good Behaviour for One Year more, to be computed from the End of the said last mentioned Year;

[Subsequent Offence.]

and if the same Person shall afterwards offend against this Act, and shall by due course of Law. be convicted of any subsequent Offence, he or she shall be imprisoned for the Term of Two Years for every such subsequent Offence.

[Persons convicted being again guilty, Clerk of the Peace shall certify former Conviction.]

XIV. And be it further enacted, That if any Person who shall be convicted of receiving or paying any such Gold Coin contrary to this Act, shall afterwards be guilty of the like Offence, the Clerk of the Assize or Clerk of the Peace for the County, City or Place where such Conviction was so had, shall, at the Request of the Prosecution or any other Person on His Majesty’s behalf, certify such Conviction, for which Certificate Two Shillings and Sixpence, and no more, shall be paid; and such Certificate being produced in Court, shall be sufficient Proof of such former Conviction.

[Indictments not to be traversed.]

XV. And be it further enacted, That no Person against whom any Bill of Indictment shall be found at any Assizes or Sessions of the Peace for any Offence against this Act, shall be entitled to traverse the same to any subsequent Assizes or Sessions; but the Court at which such Bill of Indictment shall be found shall forthwith proceed to try the Person or Persons against whom the same shall be found,

[Proviso.]

unless he, she or they shall shew good cause, to be allowed by the Court, why his, her or their Trial should be postponed.

[On Prosecution, not necessary to prove Money lawful.]

XVI. Provided always, and be it further enacted, That on any Prosecution or Trial of any Offender or Offenders hereafter to be prosecuted or tried for any Offence against this Act, it shall not be necessary to prove that the Gold Coin received or paid or uttered contrary to this Act, is the Current Gold Coin of this Realm, but the same shall be deemed and taken so to be, if received or paid or uttered as such, until the contrary thereof shall be proved to the Satisfaction of the Judge, Justice or Court before whom any such Offender or Offenders shall be prosecuted or tried.

[All other Acts relating to Silver Coin extended to this Act.]

XVII. And be it further enacted, That all and every Act and Acts in force immediately before the passing of this Act, respecting the Coin of this Realm, or the clipping, diminishing or counterfeiting of the same, or respecting any other matters relating thereto, and all Provisions, Proceedings, Penalties, Forfeitures and Punishments therein contained or directed, not expressly repealed by this Act, and not repugnant or contradictory to the Enactments and Provisions of this Act, shall be and continue in full Force and Effect; and shall be applied and put in Execution with respect to the Silver Coin to be coined in pursuance of the Directions of this Act, as fully and effectually to all Intents and Purposes whatsoever, as if the same were repeated and reenacted in this Act.

[Proviso for Payments in Bank of England Notes.]

XVIII. Provided always, and be it enacted, That nothing in this Act contained shall extend, or be construed to extend, to affect, alter or repeal any Clause, matter or thing in any Act and Acts made or to be made in this present Session of Parliament, whereby it is or may be enacted or provided that the Promissory Notes of the Governor and Company of the Bank of England, expressed to be payable to Bearer on Demand (called Bank Notes) shall be received for any Period in any such Act mentioned in Payment of all Sums of Money which are or shall become payable for any Part of the Public Revenue, and shall be accepted by the Collectors, Receivers and other Officers of the Revenue authorized to receive the same, if offered to be so paid, fractional Parts of Twenty Shillings only excepted; any thing in this Act before contained to the contrary thereof in any wise notwithstanding.

[Proviso for Payments of Revenue in Ireland, in Irish Bank Tokens.]

XIX. Provided also, and be it enacted, That nothing in this Act contained shall extend, or be construed to extend, to alter or repeal any Clause, matter or thing in any Act or Acts in force in Ireland, whereby it is enacted or provided that all Sums of Money payable in Ireland, for any Part of the Public Revenue there, shall be accepted by the Collectors, Receivers and other Officers of the Revenue in Ireland authorized to receive the same, in Silver Bank Tokens of the Bank of Ireland, for Thirty Pence, Ten Pence, or Five Pence respectively, which shall be issued during the Continuance of the Restriction on Payments in Cash by the Governor and Company of the Bank of Ireland, if offered to be so paid; any thing in this Act before contained to the contrary thereof in any wise notwithstanding.

Source: Butterworths, Statutes of the United Kingdom, 1816.

Further reading: Wikipedia.