Part 14 (2/2)
25 5,000 125,000 25 1,000 25,000 100 500 50,000 250 100 25,000 600 50 30,000 ----- ------- 1,000 255,000 49,000--.5 returned on each. 245,000 ------ ------- 50,000 Tickets. 500,000
”SCHEME OF DRAWING.
”Let 2000 Tickets from No. 1, to 1999 inclusive, (with Number 50,000) be put into a Wheel the first day, and proceed in the same manner numerically for 25 days. In the other Wheel, each day let there be put the following proportion of Prizes, viz.
1 5000 5000 1 1000 1000 4 500 2000 10 100 1000 24 50 1200 ---- ------ 40 10,200 1960.--.5 to be returned on each. 9800 ---- ------ 2000 Tickets 20,000
”In Lotteries where the lowest prizes have been of .20 the blanks have been the proportion of 2-1/2 to a prize. If therefore a person had seven tickets they were ent.i.tled to expect only two .20 prizes or .40. In this, however, they were frequently disappointed, and their chance for a prize of .50 or upwards has been as about 200 to 50,000.
By the above Scheme, if a person has seven tickets they are sure of a return of .35, and have the chance of 40 to 2000, or 1000 to 50,000 for a superior prize. The certainty of the numbers and the prizes to be drawn each day would prevent insurance on those events, and every ticket being a prize there could be no insurance against blanks.
”In fact, the Lottery might be drawn in one day,--thus: Let there be twenty-five bags containing each 2000 numbers, either promiscuously chosen or of stated thousands. Let there be also 25 bags each containing the 40 prizes above appropriated to each day's drawing. Let the Commissioners empty one bag of numbers and one of prizes into two wheels. Let them draw 40 numbers out of the Number Wheel, and the 40 prizes out of the other. The remaining 1960 numbers to be ent.i.tled to .5 each.--Then let them proceed with other 2000 numbers in the same way.”
At all events, whether these Plans for reforming this enormous evil, are or are not superior to others which have been devised, it is clear to demonstration, that the present System is founded on a principle not less erroneous than mischievous; and, therefore, it cannot too soon be abandoned; especially since it would appear that the Revenue it produces might be preserved, with the incalculable advantage to the nation of preserving, at the same time, the morals of the people, and turning into a course of industry and usefulness the labour of many thousand individuals, who, instead of being, as at present, pests in Society, might be rendered useful members of the State.
CHAP. VII.
_The Frauds arising from the manufacture and circulation of base Money:--The Causes of its enormous increase of late years.--The different kinds of false Coin detailed:--The Process in fabricating each species explained:--The immense Profits arising therefrom:--The extensive Trade in sending base Coin to the Country.--Its universal Circulation in the Metropolis.--The great Grievance arising from it to Brewers, Distillers, Grocers, and Retail Dealers, in particular, as well as the Labouring Poor in general.--The princ.i.p.al Channels through which it is uttered in the Country and in the Metropolis.--Counterfeit foreign Money extremely productive to the dealers.--A summary View of the Causes of the mischief.--The Defects in the present Laws explained:--And a Detail of the Remedies proposed to be provided by the Legislature._
The frauds committed by the fabrication of base Money, and by the nefarious practices, in the introduction of almost every species of Counterfeit Coin into the circulation of the Country, are next to be discussed.
The great outlines of this enormous evil having been stated in the first Chapter, it now remains to elucidate that part of the subject which is connected with _specific detail_.
One of the greatest sources of these multiplied and increasing frauds is to be traced to the various ingenious improvements which have taken place of late years, at Birmingham, and other manufacturing towns, in mixing metals, and in stamping and _colouring_ ornamental b.u.t.tons.
The same ingenious process is so easily applied to the coinage and colouring of false money, and also to the mixing of the metals of which it is composed, that it is not to be wondered at, that the avarice of man, urged by the prospect of immense profit, has occasioned that vast increase of counterfeit money of every description, with which the Country is at present deluged.
The false coinages which have been introduced into circulation, of late years, are _Guineas, Half-Guineas and Seven s.h.i.+lling Pieces, Crowns and Half-Crowns, s.h.i.+llings, Sixpences, Pence, Halfpence, and Farthings_, of the similitude of the coin of the realm: of foreign coin, _Half Johannas, Louis d'ors, Spanish Dollars, French Half-Crowns, s.h.i.+llings and Sixpences, 30 Sol pieces, Prussian and Danish Silver money, and other continental coins_; to which may be added, _Sequins of Turkey, and PaG.o.das of India_. These foreign coins except in the instance of the _Spanish Dollars_[43] issued by the Bank of England in 1797, have generally been sold as articles of commerce for the purpose of being fraudulently circulated in the British Colonies or in Foreign Countries.
[Footnote 43: The circulation of stamped Spanish Dollars, in 1797, gave rise to a very extensive coinage of counterfeit money of the same species, which was generally executed in a very masterly manner, and before the fraud was discovered vast quant.i.ties were in the hands of many innocent members of the community. Several detections, however, having checked the circulation, and silver bullion having fallen greatly in price, those who were in the habit of dealing in base money availing themselves of this circ.u.mstance, purchased Dollars in great quant.i.ties at about 4_s._. 2_d._ which they instantly stamped and circulated at 4_s._ 9_d._ and by which species of villainy large sums of money were suddenly ama.s.sed.--One dealer in particular is said to have made above .5000 in six weeks. The Laws attaching no punishment to this unforeseen offence, and the Author representing the circ.u.mstances of the case to the Bank Directors, the whole were called in, leaving, however, in the hands of the dealers a large surplus of actual counterfeits,--which appears to have suggested to them the expedient of finding a market in the British American Colonies and the United States, where, in general, frauds are less likely to be detected from the payments being made (particularly in the West India islands) in dollars put up in bags containing a certain value in each.
However, they were fortunately defeated in this object by the timely notice given, by the Author of this Treatise, to his Majesty's Secretary of State, and the American Minister, and through these respectable mediums commercial people were put upon their guard before the intended fraud could be carried into effect.]
So dexterous and skilful have Coiners now become, that by mixing a certain proportion of pure gold with a compound of base metal, they can fabricate guineas that shall be full weight, and of such perfect workmans.h.i.+p as to elude a discovery, except by persons of skill; while the intrinsic value does not exceed thirteen or fourteen s.h.i.+llings, and in some instances is not more than eight or nine. Of this coinage considerable quant.i.ties were circulated some years since, bearing the impression of George the Second: and another coinage of counterfeit guineas of the year 1793, bearing the impression of his present Majesty, has been for some years in circulation, finished in a masterly manner, and nearly full weight, although the intrinsic value is not above eight s.h.i.+llings: half guineas are also in circulation of the same coinage: and lately a good imitation of the seven-s.h.i.+lling pieces. But as the fabrication of such coin requires a greater degree of skill and ingenuity than generally prevails, and also a greater capital than most coiners are able to command, it is to be hoped it has gone to no great extent; for amidst all the abuses which have prevailed of late years, it is unquestionably true, that the guineas and half-guineas which have been counterfeited in a style to elude detection, have borne no proportion in point of extent to the coinage of base _Silver_. Of this latter there are _five_ different kinds at present counterfeited; and which we shall proceed to enumerate.
_The first of these are denominated_ Flats, from the circ.u.mstance of this species of money being cut out of flatted plates, composed of a mixture of silver and blanched copper. The proportion of silver runs from one-fourth to one-third, and in some instances to even one-half: the metals are mixed by a chemical preparation, and afterwards rolled by flatting mills, into the thickness of _s.h.i.+llings_, _half-crowns_, or _crowns_, according to the desire of the parties who bring the copper and silver, which last is generally stolen plate. It is not known that there are at present above one or two rolling mills in London, although there are several in the Country, where all the dealers and coiners of this species of base money resort, for the purpose of having these plates prepared; from which, when finished, _blanks_ or round pieces are cut out, of the sizes of the money meant to be counterfeited.
The artisans who stamp or coin these blanks into base money are seldom interested themselves. They generally work as mechanics for the large dealers who employ a capital in the trade;--and who furnish the plates, and pay about eight per cent. for the coinage, being at the rate of one penny for each s.h.i.+lling, and twopence-halfpenny for each half-crown.
This operation consists first in turning the blanks in a lathe;--then stamping them, by means of a press, with dies of the exact impression of the coin intended to be imitated:--they are afterwards rubbed with sandpaper and cork; then put into aquafortis to bring the silver to the surface; then rubbed with common salt; then with cream of tartar; then warmed in a shovel or similar machine before the fire; and last of all rubbed with _blacking_, to give the money the appearance of having been in circulation.
All these operations are so quickly performed, that two persons (a man and his wife for instance,) can completely finish to the nominal amount of fifty pounds in s.h.i.+llings and half-crowns in two days, by which they will earn each two guineas a day.
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