In another paragraph of the patent your Majesty has covenanted and granted unto the said William Wood, his executors, &c. "That upon performance of covenants, on his and their parts, he and they shall peaceably, and quietly, have, hold, and enjoy all the powers, authorities, privileges, licences, profits, advantages, and all other matters and things thereby granted, without any let, suit, trouble, molestation or denial of your Majesty, your heirs or successors, or of or by any of your or their officers or ministers, or any person or persons, &c." This being so expressly granted and covenanted by your Majesty, and there appearing no failure, non-performance, or breach of covenants, on the part of the patentee, the Lords of the Committee cannot advise your Majesty to give directions to the officers of the revenue, not to receive or utter any of the said copper halfpence or farthings as has been desired.
Mr. Wood having been heard by his counsel, produced his several witnesses, all the papers and precedents, which he thought material, having been read and considered, and having as he conceived, fully vindicated both the patent, and the execution thereof. For his further justification, and to clear himself from the imputation of attempting to make to himself any unreasonable profit or advantage, and to enrich himself at the expense of the kingdom of Ireland, by endeavouring to impose upon them, and utter a greater quantity of copper money, than the necessary occasions of the people shall require, and can easily take off, delivered a proposal in writing, signed by himself, which is hereunto annexed, and Mr. Wood having by the said letters-patent, "covenanted, granted, and promised to, and with your Majesty, your heirs and successors, that he shall and will from time to time in the making the said copper farthings and halfpence in England, and in transporting the same from time to time to Ireland, and in uttering, vending, disposing and dispersing the same there, and in all his doings and accounts concerning the same, submit himself to the inspection, examination, order and comptrol of your Majesty and your commissioners of the treasury or high-treasurer for the time being;" the Lords of the Committee are of opinion, that your Majesty upon this voluntary offer and proposal of Mr. Wood, may give proper orders and directions for the execution and due performance of such parts of the said proposal, as shall be judged most for the interest and accommodation of your subjects of Ireland: In the mean time, it not appearing to their Lordships that Mr. Wood has done or committed any act or deed, that may tend to invalidate, or make void his letters-patent, or to forfeit the privileges and advantages thereby granted to him by your Majesty; It is but just and reasonable, that your Majesty should immediately send orders to your commissioners of the revenue, and all other your officers in Ireland, to revoke all orders, directions, significations, or intimations whatsoever, that may have been given by them, or any of them, to hinder or obstruct the receiving and uttering this copper money, and that the halfpence and farthings already coined by Mr. Wood, amounting to about 17,000_l_. and such further quantity as shall make up the said 17,000_l_. to 40,000_l_. "be suffered and permitted without any let, suit, trouble, molestation, or denial of any of your Majesty's officers or ministers whatsoever, to pass, and be received as current money by such as shall be willing to receive the same." At the same time, it may be advisable for your Majesty, to give the proper orders, that Mr. Wood shall not coin, import into Ireland, utter or dispose of any more copper halfpence or farthings, than to the amount of 40,000_l_. according to his own proposal, without your Majesty's special licence or authority, to be had for that purpose; and if your Majesty shall be pleased to order, that Mr. Wood's proposal, delivered to the Lords of the Committee, shall be transmitted to your Majesty's chief governor, deputies, or other your ministers, or officers in Ireland, it will give them a proper opportunity to consider, Whether, after the reduction of 360 tons of copper, being in value 100,800_l_. to 142 tons, 17 hundred, 16 pounds being in value 40,000_l_. only, anything can be done for the further satisfaction of the people of Ireland.