Page:History of England (Froude) Vol 5.djvu/105

the conclusion of the peace with France, the experiment was to be tried on a grander scale.

July 8.By a resolution of the English council, on the 8th of July, 1550, it was determined that a mint should be forthwith established in Ireland, and that it should be let out to farm for twelve months on the following conditions:—

1. That the King should be at no manner of charge, great or small.
2. That the King should have thirteen shillings and fourpence clear out of every pound weight that should be coined.
3. That the bullion to be coined should be provided from other countries, and not from England or Ireland.
4. That by this means the sum of 24,000l. at the least should be advanced to the King's Majesty within twelve months.
5. That the King should appoint a master of assays and a controller.^[1]

August.An indenture was drawn on the 9th of August, between the council and Martin Perry, granting to Perry the management of the establishment on these terms; the money to be made was to be four ounces fine with eight of alloy. The pound weight of silver, if coined at a pure standard, yielded forty-eight shillings; with two-thirds of alloy, therefore, it would produce one hundred and forty-four;^[2] and if the King

1. Privy Council Register. MS.
2. See Ruding, vol. ii. p. 105. Ruding, describing the indenture and the proportions of alloy, says