[Footnote 11: Instead of the words "loss of money," Faulkner in the reprint of 1725 has "to be fined and imprisoned." [T.S.]]
However I cannot but warn you once more of the manifest destruction before your eyes, if you do not behave yourselves as you ought.
I will therefore first tell you the plain story of the fact; and then I will lay before you how you ought to act in common prudence, and according to the laws of your country.
The fact is thus: It having been many years since COPPER HALFPENCE OR FARTHINGS were last coined in this kingdom, they have been for some time very scarce,[12] and many counterfeits passed about under the name of _raps_, several applications were made to England, that we might have liberty to coin new ones, as in former times we did; but they did not succeed. At last one Mr. Wood,[13] a mean ordinary man, a hardware dealer, procured a patent[14]under his Majesty's broad seal to coin fourscore and ten thousand pounds[15] in copper for this kingdom, which patent however did not oblige any one here to take them, unless they pleased. Now you must know, that the halfpence and farthings in England pass for very little more than they are worth. And if you should beat them to pieces, and sell them to the brazier you would not lose above a penny in a shilling. But Mr. Wood made his halfpence of such base metal, and so much smaller than the English ones, that the brazier would not give you above a penny of good money for a shilling of his; so that this sum of fourscore and ten thousand pounds in good gold and silver, must be given for trash that will not be worth above eight or nine thousand pounds real value. But this is not the worst, for Mr. Wood when he pleases may by stealth send over another and another fourscore and ten thousand pounds, and buy all our goods for eleven parts in twelve, under the value. For example, if a hatter sells a dozen of hats for five shillings a-piece, which amounts to three pounds, and receives the payment in Mr. Wood's coin, he really receives only the value of five shillings.
[Footnote 12: They had become scarce because they had been undervalued, and therefore sent out of the country in payment of goods bought. See Prior's "Observations on Coin," issued in 1729, where it is stated that this scarcity had occurred only within the last twenty years. [T.S.]]