The Psalmist reckons it an effect of God's anger, when "He selleth His people for nought, and taketh no money for them." That we have greatly offended God by the wickedness of our lives is not to be disputed: But our King we have not offended in word or deed; and although he be God's vicegerent upon earth, he will not punish us for any offences, except those which we shall commit against his legal authority, his sacred person (which God preserve) or the laws of the land.
The Report is very profuse in arguments, that Ireland is in great want of copper money.[15] Who were the witnesses to prove it, hath been shewn already, but in the name of God, Who are to be judges? Does not the nation best know its own wants? Both Houses of Parliament, the Privy-council and the whole body of the people declare the contrary: Or let the wants be what they will, We desire they may not be supplied by Mr. Wood. We know our own wants but too well; they are many and grievous to be borne, but quite of another kind. Let England be satisfied: As things go, they will in a short time have all our gold and silver, and may keep their adulterate copper at home, for we are determined not to purchase it with our manufactures, which Wood hath graciously offered to accept. Our wants are not so bad by an hundredth part as the method he hath taken to supply them. He hath already tried his faculty in New-England,[16] and I hope he will meet at least with an equal reception here; what that was I leave to public intelligence. I am supposing a wild case, that if there should be any person already receiving a monstrous pension out of this kingdom, who was instrumental in procuring this patent, they have either not well consulted their own interests, or Wood must[17] put more dross into his copper and still diminish its weight.
[Footnote 15: On this subject of the want of small money in Ireland, Monck Mason traverses the Report in the following manner:
"There appears to be a manifest prevarication in their lordships' report upon this part of the subject; they state, that the witnesses testified, that there was a want of small money in Ireland; they attempt, therefore, to impose a copper currency, which certainly was not wanted. To satisfy the reader upon this point, I shall quote, from the unpublished correspondence of Archbishop King, the following extracts: the first, from his letter to General Gorge, dated the 17th October, 1724, is to the following purpose.
"'... As to our wanting halfpence for change, it is most false; we have more halfpence than we need, already; it is true, we want change; but it is sixpences, shillings, half-crowns, and crowns; our silver and our guineas being almost gone; and the general current coin of the kingdom is now moydores, which are thirty shillings a-piece; at least nine pence above the value in silver: now, they would have us change these for halfpence, and so the whole cash of the kingdom would be these halfpence.' ...
"But the true state of the case, as to coin, is more circumstantially developed in the following letter of the same prelate to Mr. Southwell, which was written a few months before, viz., on the 9th June, 1724.
"'... And yet, after all, we want change, and I will take leave to acquaint you with the state of this kingdom as to coin. We used to have hardly any money passing here, but foreign ducatoons, plate pieces, perns, dollars, etc. but, when the East India Company were forbid sending the coin of England abroad, they continued to buy up all our foreign coin, and give us English money in lieu of some part of it; by which we lost twopence in every ounce, the consequence of this was, that in two years there was not to be seen in Ireland a piece of foreign silver.
"'If any be brought, it is immediately sent away, the two, or as I am informed, the three pence in the ounce, given by the East India Company, being a temptation not to be resisted; but, the truth is, very little is brought in, for the merchants that carry our commodities to foreign markets, find it more to their advantage to carry directly to London whatever they receive in cash; and whereas formerly they used, when they had disposed of their cargo, to load their vessels with such commodities as there was a demand for in Ireland, and bring the rest in cash, they bring now only the commodities, and send the silver to London; and when they have got the twopence in every ounce from the East India Company, the rest serves to answer the returns we are obliged to make to England, for the rents we are obliged to pay to noblemen and gentlemen who have estates in Ireland and live in England, and for the pensions, and other occasions which are many; by this means they gain likewise the exchange, which is commonly four or five per cent, better to them than if they sent cash.
"'It Is farther to be observed, that 21 shillings, which is the value of a guinea in England, makes in Ireland 22 shillings and 9 pence, whereas a guinea passes for 23 shillings with us, therefore, he who sends silver into England, gains three pence more by it than if he sent guineas; this advantage, though it may seem little, yet in a manner has entirely drained us of our English money which was given in lieu of foreign silver.
"'But farther, if any carry foreign gold to England, they cannot easily pass it, and if they do, it is at a greater loss than there is in the guineas, this has taken away our guineas, so that there is hardly one to be seen; we have hardly any coin left but a few moydores and pistoles, which can, by no means, serve the inland trade of the kingdom.