The Sun.
London, England, 1859-05-19 00:00:00

OUR SILVER COINAGE.

It has been demonstrated in previous articles on
the state of the British coinage that there exist
great defects in it, and that the let-it-alone tendency
of the public—so notoriously characteristic of the
English—has permitted the copper coinage espe-
cially to degenerate until it has become a positive
nuisance. It is now our purpose to refer to the
silver coinage of the kingdom, and to urge the
Government to adopt such improvements therein
as shall ensure the advantage of a circulation of
legible coins, instead of the plain and polished discs j
which at present slip through the fingers of shop-
keepers, and require a stretch of credulity to make
one believe that they ever bore a Mint mark at all.
It is, as we have previously stated, a fact that
£lO,OOO are voted every year for the purchase of
worn silver coins, and that pieces to that value, of
the various denominations, pass yearly through the
melting-pots of H. M. Mint, to be re-issued in the
form of newly-struck money. It is equally a fact,
nevertheless, that this renewal does not keep pace
with the rapid deterioration constantly going on.
The wear and tear of the hardworked sixpence, for
instance, is enormous. It is the medium useful coin,
which is allowed no respite from its duty, but is
compelled to move unceasingly. The per-tentage of
worn sixpences annually consigned to the Mint
crucibles is far higher than that of any other coin.
So far as this amount of annual exchange goes,
the evil of which we complain is met ; but it is
unfortunately a remedy quite unequal to the dis-
order. Our silver currency, in spite of the infusion
of £lO,OOO worth of new coins yearly, is growing
gradually worse and worse, and the bad conse-
quences attending this state of things increase
hourly. It is not of the direct material importance
to the mercantile classes perhaps, that a worn gold
currency—the value of whose individual units de-
pends on exactness of weight—would be ; but in
other senses it is o f most serious import to the whole
community. To the counterfeit maker, a worn
and defaced silver coinage is serviceable in the
highest degree ; as it is also to the utterer of his
spurious productions. The imitation in other metals
of defective money is comparatively easy to the
contraband artist ; whilst in company of each other
true and false coins are difficult of distinction. A
used •up coinage, in fact, invites fraud in a hundred
ways, and is a positive curse to tradesmen and
others among whom, principally, it circulates. It
involves loss of time, and is a heavy pecuniary tax.
We need not, indeed, particularise all the inconve-
niences arising from this evil; they are patent, and
the thing is to suggest a cure.
It is a fact as well known to the Government
as to ourselves, that during the last fifty years
the trading and commercial transactions of Great
Britain have increased enormously. They are
happily, too, still increasing. It is plain then—
without invoking Adam Smith or John Stuart Mill
—that the gold, silver, and copper tokens of value
we use must, as a consequence, have, say, treble the
amount of duty to do that they had in the days of
our fathers. The effects of heavy duty are only
too plainly exhibited; and the images and super-
scriptions of George 111., George IV., William IV.,
and even of our good Queen Victoria, are scarcely
recognisable on the coins of their respective
reigns. There is nothing for it but to make
the supply equal to the occasion. Where one
sixpence, for example, was coined in times past
there should be now coined six ; and, moreover,
the age of all coins should be limited. There must
be enacted a compulsory retirement clause for old
half-crowns, shillings, sixpences, and threepennies
—(groats are dying a natural death, for no more
are to be struck)—after they have circulated for a
certain number of years, say 10 or 12, their places
being filled by new, intelligent, and intelligible
candidates for public service. This would be
systematic and practicable. Data might be obtained
from the dates of the present silver coinage, as to
the longevity in a useful condition of all deno-
minations of coins, and the tenure of office of
new monies would be made to expire with their
fitness for active duty. It is no fanciful theory
which we are propounding, but a necessary im-
provement, which ought, nay must be carried out.
If the Mint on Tower Hill be not of sufficient
extent for effecting speedily the alterations, let its
mechanical resources be augmented. Much, how-
ever, might be done, we are convinced by the exist.
ing establishment in giving effect to our suggestion.
The Mint, in days gone by, has done much when
pressure required it, and its productive powers
are now, as was shown previously, far greater.
The entire silver coin in circulation in these
realms represents a value of £12,000,000, or
thereabouts, and the annual returns of the
Mint show an average increase of about £340,000
worth. When, in 1816, it was determined to
exchange the old silver coinage of the country for
new, the Royal Mint appears to have done exceed-
ingly well. It commenced striking the new coinage
on the 16th of July in that year. By the 3d of
February, 1817, £2,500,000 worth was completed,
and by the 4th of March following, £2,738,041.
This consisted of the following kinds of coin :

Half-Crowns
Shillings
Sixpences

Total
This labour involved many nights and some
Sundays ; but double the quantity might now be
coined at the Mint without invading the hours of
rest or of religious exercises. At that period it
was resolved to effect, if possible simultaneously, the
exchange of old for new silver, and the transaction
did occupy actually only a fortnight. The whole
of the old silver coinage was thus exchanged and
withdrawn, and after the Ist of June, 1817, it
ceased, by proclamation, to be a legal tender. The
demand for coin continued urgent for several years
after, and by the end of 1821 £7,500,000 worth was
produced—a proportion of two and a half to one of
the old coinage. The old Bank of England tokens of
3s. and ls. 6d. were next called in. In 1829 the Irish
tenpenny and twopenny pieces, valued at L 700,000,
were also withdrawn, and replaced by pieces of the
then modern mintage. The existing silver coinage
of the United Kingdom, augmented by the small
additions named above, consists of the products of
the Mint from 1817 to 1826 ; and surely there can
be no question that the time has again come for an
entirely new issue. If so much work was done then,
what may not be accomplished now? And how
much more creditable to this great nation would it
be to have a unique and beautiful coinage of silver
—whether on the decimal plan or otherwise—
rather than the present shabby, slippery, and mean-
ingless collection of coins which betoken neither
our high character as a State, nor our shrewdness
as a trading community ?-21/echanies' Magazine.

ROYAL DRAMATIC COLLEGE.--A ball took place
last evening, at the St. James's Hall, under the auspices of
a committee of gentlemen, most of whom have taken an
active part in furthering the objects of this proposed insti-
tution. The arrangements were very good, and all the
tickets being vouched, the too frequent objections to public
assemblies of this description were apparent in a lesser
degree than is usual on occasions of a similar character.
A fair gathering of the profession were present. The guests
may have numbered about 400, and the hall, when thus
furnished, looked exceedingly pretty. Messrs. Cooto's band
was in attendance, and dancing, which commenced at 10
;
o'clock, was kept up with great animation until midnight,
when supper was served in Mr. Donald's dining saloon.
Before the company rose Mr. Webster, who presided gavo
" Success to the Royal Dramatic College." a toast which
was drunk with much entfiusiasm. We believe the result
of the ball will place a handsome sum to the credit of the
college funds, and there can be no doubt that the success
of this first attempt will lead to an annual repetition of still
greater advantage.
- - -

A letter from Valenza says :_ci The division of
General Renault, which is nearest the enemy, is superb.
Their bravo commander had a narrow escape a few days
ago of being killed while making a reconnaissance on the
right bank of the Po. While the French were looking on
from a distaifee without firing, the Croats sent a few shots,
one of which struck a chlseur of the general's escort, who
comrade
closer ade fall to him.from The French soldiers, on seeing their
liahors
_e, cried out : ' Try again, gentle-
men ; you shall be paid
edne o
sdiElyhereafter cent. per cent."'
LINCOLN, W
an hour after noon, a fire broEkevoeuntinong
druggist, immediately adjoining
Water was obtained from the hydrantsm
Company,.
Spencer, dru •gfe rttph:reee. d
Waterworksmpai sYO t
-oaofbffi 1 keiuert..
but the supply was very ineffective, and the pre-
Tleses were totally destroyed, as was also the Post-office.
beW _are glad to state that the letters, which were about to
delivered, were saved, and a temporary Post-office was
established at the Corn Exchange, which is contiguous.
There was no-evening postal delivery, and the night letters
were not sent off. The damage is estimated at several
thousand pounds.-
ANOTHER EXPLOSION AT THE HOUNSLOW Pow-
DER IIfILLs.—At a quarter past 11 on Tuesday night, con-
siderable alarm and excitement were created in the neigh-
bourhoods of Twickenham and Hounslow by a succession
of explosions at the mills of Messrs. Curtis and Harvey.
Although not of the fearful character of the last, which took
place only a few weeks ago, still, occurring at a time when
most of the families had retired to rest, coupled wince the
h the
singular fact that only a few hours had elapsed sin
verdict in the former case had been returned, it caused a
deep sensation. The mills that exploded on the present
occasion aro called the incorporating mills, four in number,
comprising a longe range of building, near the engine-house
—these are entirely destroyed, and unhappily one poor
fellow, named Allen, is stated to have received such severe
injuries that no hopes are entertained of his recovery. It
seems to have been but little known that the manufacture
of gunpowder at the above works is carried on without in-
termission, Sundays not being excepted. This was statod
in evidence before the coroner on Tuesday last, and has led
to considerable discussion.
LARGE CASTING.—On Saturday last, an anvil
block, intended for an immense hammer, to be used in the
making of Sir Wm. Armstrong's guns, was cast at the
foundry of Messrs. Morrison and Co., Ouseburn, Newcastle-
on-Tyne. When finished it will weigh 211 tons. It was
cast in one run, the quantity of metal melt for it being '23
tons. The size of the base is 6 feet 6 inches by 9 feet, and
its thickness 91 inches ; the body part being 3 feet 10 inches
by 3 feet 9 inc es. In coasequence of the heat still in the
metal, it will Dave to lie a week before it can, be raised,