If Mr. McCulla's coins will not pass, and he refuses to receive them back, the owner cannot sell them at above twelvepence per pound; whereby, with the defect of weight of 10 per cent he will lose 60 per cent.
The scheme of the society, raised as high as it can possibly be, will be only thus:
| For interest of their money per cent | 8 | |
| For coinage, instead of 10, suppose, at most, per cent | 20 | |
| For 300l. laid out for tools, a mint, and house rent, charge 3 per cent upon the coinage of 10000l. | 3 | |
| Charges in all, upon interest, coinage, &c. per cent | 31 |
Which, with all the advantages above-mentioned, of the goodness of the metal, the largeness of the coin, the deepness and fairness of the impression, the assurance of the society confining itself to such a sum as they undertake, or as the kingdom shall approve; and lastly, their paying in gold or silver for all their coin returned upon their hands, without any defalcation, would be of mighty benefit to the kingdom; and, with a little steadiness and activity, could, I doubt not, be easily compassed.
I would not in this scheme recommend the method of promissory notes, after Mr. McCulla's manner; but, as I have seen in old Irish coins, the words civitas dvblin. on one side, with the year of our Lord and the Irish harp on the reverse.
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