Farthings are also made in considerable quantities, chiefly in London, but so very thin that the profit upon this species of coinage is much greater than on the halfpence, though these counterfeits are not now, as formerly, made of base metal. The copper of which they are made is generally pure. The advantage lies in the weight alone, where the coiners, sellers, and utterers, do not obtain less than 200 per cent. A well known coiner has been said to finish from sixty to eighty pounds sterling a week. Of halfpence, two or three persons can stamp and finish to the nominal amount of at least two hundred pounds in six days.
When it is considered that there are seldom less than between forty and fifty coinages or private mints, almost constantly employed in London and in different country towns; in stamping and fabricating base silver and copper money, the evil may justly be said to have arrived at an enormous height. It is indeed true that these people have been a good deal interrupted and embarrassed from time to time, by detections and convictions; but while the laws are so inapplicable to the new tricks and devices they have resorted to, these convictions are only a drop in the bucket: while such encouragements are held out the execution of one rogue only makes room for another to take up his customers; and indeed as the offence of selling is only a misdemeanor it is no unusual thing for the wife and family of a culprit, or convicted seller of base money to carry on the business, and to support him luxuriously in Newgate, until the expiration of the year and day's imprisonment, which is generally the punishment inflicted for this species of offence.
It has been already stated [[page 16], &c.] that trading in base money has now become as regular and systematic as any fair branch of trade.—
Certain it is, that immense quantities have been regularly sent from London to the Camps during the summer season; and to persons at the sea-ports and manufacturing towns, who again sell in retail to the different tradesmen and others who pass them at the full import value.
In this nefarious traffic a number of the lower order of the German Jews in London assist the dealers in an eminent degree, particularly in the circulation of bad halfpence.
It has not been an unusual thing for several of these dealers to hold a kind of market every morning, where from forty to fifty of these German Jew boys are regularly supplied with counterfeit halfpence; which they dispose of in the course of the day in different streets and lanes of the Metropolis, for bad shillings, at about 3d. each. Care is always taken that the person who cries bad shillings shall have a companion near him who carries the halfpence, and takes charge of the purchased shillings (which are not cut:) so as to elude the detection of the Officers of the Police, in the event of being searched.
The bad shillings thus purchased, are received in payment by the employers of the boys, for the bad halfpence supplied them, at the rate of four shillings a dozen; and are generally resold to Smashers, at a profit of two shillings a dozen; who speedily re-colour them, and introduce them again into circulation, at their full nominal value.
The boys will generally clear from five to seven shillings a day, by this fraudulent business; which they almost uniformly spend, during the evening, in riot and debauchery; returning pennyless in the morning to their old trade.
Thus it is that the frauds upon the Public multiply beyond all possible conception, while the tradesman, who, unwarily at least if not improperly, sells his counterfeit shillings to Jew boys at threepence each, little suspects that it is for the purpose of being returned upon him again at the rate of twelve-pence; or 300 per cent. profit to the purchasers and utterers.
But these are not the only criminal devices to which the coiners and dealers, as well as the utterers of base money, have had recourse, for answering their iniquitous purposes.