There are three matters which must be kept separate, in order to a due understanding of the coinage as ,t; great national manufacture : namely, the relations between the government, the Bank of England, and the Mint ; the relations between the master and his subordinates; and the actual manufacturing operations. Of these three we shall treat in succession in a brief form.
The Mint is bound to convert into coin, at the public expense, any and all gold bullion that may be brought to it far that purpose, if quite or nearly of standard fineness. Practically, the Bank of England is almost the only customer to the Mint in this way, owing to certain facilities which that great establishment has for managing monetary affairs. The gold coins, sovereigns and half-sovereigns, are sent back to the Bank of England in exchange for the bullion received from thence. Sometimes the Bank comes into possession of gold coins of various dates, countries, and standards ; these being troublesome to deal with, are converted into " sterling." Bags, containing about 700/. worth each, are taken to a refiner's in the city, and melted, each bag ful into one bar. The bars are then sent to the Mint to be assayed, and in (most cases to be coined into sovereigns and half-sovereigns. The loss by wear and tear, as well as the expense of coining, are borne by an annual vote of the House of Commons. Silver and copper are differently treated. The Mint officers purchase silver bullion, pure copper, and old silver and copper coins, in such quantities as are necessary for the purposes of trade, coin them into silver and copper pieces, and sell or exchange these for gold or notes to any applicants.
The second subject adverted to, namely, the relation existing between the master and his subordinates, or the organisation of the Mint under the now system, may thus bo briefly described. The duties undertaken by the Mint are threefold—to receive, and convert into coin at the public expense, all gold bullion of nearly standard fineness, which may be sent thither for that purpose ; to buy silver and copper, convert them into coin, and facilitate the exchange by the public of gold or notes for such coin ; and to make all such coins for colonial use, and such medals for the public service, as the Treasury may require. To perform these duties there are several departments at the Mint—namely, a Mint office, for the receipt, custody, and delivery of bullion and coin ; an assay department, for ascertaining the quality of coin and bullion ; a melting establishment, for converting the bullion into bars of the proper standard and proportions for coinage ; a coining establishment, for converting the bars into coins or medals ; a die establishment, for providing or obtaining the stamps, dies, or engraved devices, to impress upon th (coin ; and a machinery department, for keeping in duo order the various engines and machines employed. Under the old rtgime, the arrangements between all the
persons employed were tiresomely minute and complicated; but '',at present the Mint bears more relation to an intelligible manufacturing establishment.
In ancient times extraordinary methods were resorted to in order to furnish the mint with workmen. Thus in the 31st Henry III., a writ was authorising Rayner do Brussell to bring into England, from beyond the seas, persons skilled in the coinage and exchange of silver, to work in the kingdom at the king's charge. (Pat., 31 Hen. III., m. 3.) And in the 25th FAlw. III., IIeury do Brussell and John de Cicestra, masters of the mint, were appointed by letters-patent to choose and take as many goldsmiths, smiths, and other workmen in the city of London and other places, where it might seem expedient to them, as should be necessary for the works of the mint in the Tower of London ; and to bring the said workmen to the said Tower, and to place them there to work at the wages allowed by the said masters. And any of them which should be rebellious in that case, to seize and arrest, and to detain in prison within the said Tower, and to keep in safe custody until the king should determine upon their punishment. These letters were directed to all sheriffs, &c., who were commanded to assist the said masters in carrying their provisions into execution. (Pat., 25 Edward III., p. 2, m. 13 dors.) This power to take work men, &c., for the service of the mint was not discontinued in the reign of Elizabeth. (` Indent. with Lorison,' 14 Elizabeth, in 'Hari. MSS.; Brit. :Slue., C98.) The custom of placing the moneyerl; name upon tho coins prevailed, as already observed, at a very early period in this island ; indeed we find it upon the money of Ecghberht, king of Kent, which is the second in point of antiquity in the Anglo-Saxon aeries, and must be dated about the middle of the seventh century. It was usually stamped upon the reverse of the coin, but in some few instances it is found upon the obverse, whilst the name of the monarch is removed to the other side. The names of two moneyers sometimes occur upon the same coin. From the time of Aethelstan, with some few exceptions only, the name of the town was added, probably in conformity to his law that the money should be coined within some town. (Wilkins, Leg. Anglo-Sax.') The name of the moneyer is not found lower than the reign of Edward I., but that of the mint was not entirely disused in the last year of Queen Elizabeth.