GENERAL INFORMATION ON SUBJECTS OF CURRENCY, GEOGRAPHY, COLONIZATION, SOCIAL IMPROVEMENT, EDUCATION The Rating of Chronometers. By CHARLES STUART MURRAY. 106 ARCHITECTURE AND PUBLIC WORKS, SCIENCE, Metropolitan Board of Works, Indemnity for Metropolitan Board of Works, Extension of 6. Miscellaneous : Habitual Drunkards. Sale of Food and Drugs Act Abstracts of Parliamentary and other Official Documents: 1. Finance, Taxation, and Currency. 3. Trade and Agriculture. 4. Population, Public Employment, and Vital Statistics 5. Crime, Pauperism, and Accidents. 6. Education, Science, and Art 7. Emigration 8. The Post Office 9. Miscellaneous Chronicle of Events and Occurrences 1878-79 Necrological Table 1878-79 INDEX 247 247 FOR 1880. PART I. GENERAL INFORMATION ON SUBJECTS OF CURRENCY, GEOGRAPHY, COLONIZATION, SOCIAL IMPROVEMENT, EDUCATION OF THE DEAF AND DUMB, PROGRESS OF LONDON, THE LONDON SCHOOL BOARD, RECENT SCIENTIFIC INVENTIONS. THE MINT: ITS SYSTEM, OPERATIONS, AND ALL civilized countries, and most of those that have reached semi-civilization, coin metallic money for the purposes of everyday trade as the most convenient medium of exchange in buying and selling. Several of these possess mints or coin-manufactories belonging to and worked by the State; while others contract with private firms or individuals to make the coins for them at a definite charge. Thus, in Germany, France, Russia, Denmark, Spain, Switzerland, and the United States the Governments mostly make their own coin; in Belgium, Italy, and Holland the coins are made by contract; while in England the gold and silver coins are made wholly at the Royal Mint, but those of bronze partly by contract with private firms at Birmingham. It is found, on impartial comparison, that coins produced by the State are usually superior in delicacy and finish to those made by contract. European countries also differ in the quality of their gold and silver coins. The precious metals, when absolutely pure, are too soft to bear the wear and tear to which coins are necessarily exposed; they require a small addition of alloy, usually copper, to harden them. England, as will be explained more fully in a later page, adopts a ratio of 11 pure gold to 1 of alloy; and this ratio is also adopted by Russia, Portugal, Turkey, and Brazil; whereas France, Belgium, Switzerland, Italy, Spain, Greece, Holland, and the United States prefer a ratio of 9 to 1. This difference raises no difficulty in exchanging the gold coins of one country for those of another, seeing that all the coins are valued according to the amount of pure gold they contain. Some particular kinds of foreign coin have standards varying from 87 to 98 per cent. of pure gold, that of England being about 917. As regards silver, the standard differs much more widely than in gold; some Dutch coins have as much as 95 per cent. silver to 5 of alloy, whereas the poorest denomination of Austrian coin has only 40 of silver to 60 of alloy. The English standard is 37 to 3, or 92 per cent. France and some other countries adopt the same ratio for silver as for gold coins, 90 per cent. of precious metal. The system on which the English Mint is conducted is marked by many interesting features. The Plantagenet and Tudor Sovereigns were not very scrupulous about the coins they issued to their subjects; they often debased either the quality or the weight, thereby enriching the Royal coffers at the expense of the people. Since those times, however, our coinage has been honest. The records of the Mint inform us that, from 1695 to 1700, so much coining was done that the Royal establishment in London could not execute it all; subsidiary mints were set up at Bristol, Chester, Exeter, Norwich, and York. Mr. (afterwards Sir Isaac) Newton was Master of the Mint at that time, and appears to have had some trouble in keeping his subordinates in order; they quarrelled so much, and allowed their wrangles to interfere so frequently with their work, that, to use his own words, "the money comes out worse than heretofore." Two of the Chester officials charged a third with malpractices, to which charge the accused replied, "I have treated neither of you with contempt and scorne, not even when one of you did spitt in my face in the publique office." In a letter written from London to Chester, Newton, vexed at these unseemly proceedings, said, “Till we come let there be no further quarreling, but let the publick business be peacefully carried on as it ought to be; for the Mint will not allow of the drawing of swords and assaulting any, nor ought such language wee hear has been used, be used any more amongst you." Full time indeed that some controlling power interfered when officials drew their swords and spat in each other's faces ! Although the English Government have almost invariably made the coin for the nation, there used to be a peculiar contract within the walls of the Mint itself. There was a company or corporation called the Moneyers, five in number, headed by a provost; they received the bullion from the Mint refiners and melters, and returned it in an equivalent weight of coins. When reforms were in progress, the Moneyers refused to produce their books to the Mint authorities; but there is reason to believe |