1724. CHAP. XIII. CHAP. WHEN Carteret was appointed Lord Lieutenant XIII. of Ireland, that kingdom was by no means in a state of tranquillity. A slight spark had by the talents of Swift been blown into a formidable flame, and a project, beyond all doubt beneficial to the nation, was ingeniously and successfully held forth to them as the greatest of grievances. To There had for some time been felt in Ireland great deficiency of copper coin; this had gone so far that several gentlemen were forced to use tallies with their workmen, and give them pieces of card, sealed and signed with their names. supply this deficiency, several proposals had been submitted to the Government in England, and one accepted from Mr. William Wood, a considerable proprietor and renter of iron works. The scheme was first designed under Sunderland, but not matured till Walpole was at the head of the Treasury. A patent was then granted to Wood for coining farthings and halfpence to the value of * Macpherson's Hist. of Commerce, vol. iii. p. 114. 1724. 108,000l. This patent was directed by Walpole CHAP. with his usual financial skill; at every step in XIII. passing it he consulted Sir Isaac Newton, as Master of the Mint; he took the advice of the Attorney and Solicitor General, and employed the utmost care to guard against any fraud or exorbitant profit. And when, on the first apprehension of troubles on this subject, a new assay was ordered at the Mint, the principal officers, with Sir Isaac as their chief, reported, that the coins in weight, goodness, and fineness, so far from falling short, even exceeded the conditions of the contract. It was requisite, on account of the difference of exchange between the two countries, that these farthings and halfpence should be a little less in weight than those current in England, "which," says Walpole, "was considered at the time of 66 66 passing the patent, and found to be necessary;' and he gives reasons that, as he truly adds, "sufficiently justify the difference of the weight of "the two coins, when at the same time it is ad"mitted on all hands, that the Irish coin in fine"ness of metal exceeds the English. As to the King's prerogative of granting such patents, it is one never disputed, and often exercised.” * 66 So clear and well conducted a transaction seemed by no means favourable for the creation of a grievance, even with a people so expert in that kind of manufacture. Almost the only blamable part in the business does not appear to have been * Letters to Lord Townshend, Oct. 1. and 18. 1723. CHAP. suspected, till the ferment against it had risen to XIII. some height; namely, a bribe which Wood had 1724. agreed to pay to the Duchess of Kendal for her influence in passing the patent. But this, however scandalous in the parties concerned, could not materially affect the quantity or quality of coin to be issued, or still less the want of such a supply for purposes of trade in Ireland. The affair, however, from various causes, took an unprosperous turn. The Irish Privy Council had not been previously consulted, and was nettled at this neglect; nor did the Irish courtiers approve of any jobs except their own. Amongst the people, the patent at first was not clearly explained, and when explained it was already unpopular. Wood was disliked, as an utter stranger to the country; he was besides a vain, imprudent man, bragging of his influence with Walpole, and threatening that he "would cram his halfpence down the throats of "the Irish." To rail at all opposition, as Popery and treason, was not the way to disarm it. Nor did the Irish Government meet the first difficulties with promptness and energy. The Duke of Grafton, Lord Lieutenant, was a person of very moderate abilities, well described by Walpole as "a fair weather pilot, that knew not what he had "to do when the first storm arose." * The Lord Chancellor (Alan Brodrick, Viscount Midleton) was an open enemy of Grafton, and a secret one of * Walpole to Townshend, Oct. 26. 1723. XIII. 1724. Walpole he had talents, but so high an opinion CHAP. of them, that he always thought himself neglected and ill used; and though he could not venture to take part himself against the Court, yet his son, his secretary, his purse-bearer, and other dependents, did so publicly and warmly. Both Through these causes, an impulse was given that soon became general, and spread from low to high. The Irish Parliament met full of resentment, and decided with headlong haste. Houses passed addresses to the King, declaring that the execution of Wood's patent would be prejudicial to the revenue, and destructive of trade; that the terms of the patent had not been complied with, and that if even they had, there would have been a loss to the nation of 150 per cent.! So monstrous an exaggeration has scarcely ever yet been hazarded in any public document—at least not out of Spain! These addresses were first transmitted to Walpole, and in sending them to Townshend at Hanover, he declares himself astonished, that any assembly should have come into resolutions that are all false in fact; "and, indeed," he adds, "I was a good deal concerned till I saw "what they did object, lest by inadvertency, or by being imposed upon, we might, out of a de"sire of doing the service, have let this slip through our fingers, liable to more objections than I was aware of. But most certainly it is The resolution that makes the loss 150 per cent. is founded upon a computation that 66 not so. XIII. 1724. 66 66 CHAP. " copper uncoined is worth 12d. a pound; now a pound of copper halfpence and farthings are by "the patent to pass for 2s. 6d. ; therefore the loss "is 1s. 6d. But a pound of copper prepared for the "mint in London costs there 1s. 6d. ; the charge of coining a pound of copper is at the Mint 4d.; and "I think the duty of a pound of copper coined, imported into Ireland, is a halfpenny per pound, "besides the exchange, and which, with all allowances, comes to 20 per cent., and all this is laid "aside, and the copper money valued at the supposed value of the rough Irish copper, which is "much inferior to English copper."* 66 66 66 The King's answer to the Irish addresses was, as Walpole advised it, mild and conciliatory: he expressed his concern that his granting a patent according to the practice of his Royal Predecessors, had given so much uneasiness, and if there had been any abuses committed by the patentee, he would give orders for inquiring into and punishing them. Accordingly the affair was referred to a Committee of the Privy Council in England, which after a most searching inquiry, and the examination of numerous witnesses, published their Report in July, 1724. In this Report they justified, in the clearest and most unquestionable manner, both the terms of the patent and the conduct of the patentee. At the same time, however, Mr. Wood declared himself willing to yield to the clamour *To Lord Townshend, Oct. 1. 1723. |