§ Lord Beaumontwished to ask the noble Lord the President of the Council, whether it were the intention of her Majesty's Government to take any steps to alleviate the inconvenience and alarm occasioned by the recent proclamation with regard to the gold coin of this country? This inconvenience was chiefly experienced by the holders of the gold coin of the reigns of George 3rd. and George 1467 4th., but those were coins with which no tricks had been played, which had not been plugged nor sweated, but which by reason of long use and circulation had become light. The persons who chiefly suffered from the existing difficulties which were experienced in procuring the value of light coin were those who, by reason of their small means, were unable to collect a large amount of money, 50l. being the smallest sum which the Bank of England undertook to purchase, and they were compelled to resort to common tradesmen who charged a much larger percentage than was just.
§ Lord Wharncliffewas glad that his noble Friend had put this question to him, and had thus enabled him to make a communication to the House which he thought would relieve the public of a great deal of anxiety and apprehension upon this subject. He was aware that the charges made for exchanging the light sovereigns, many of which were in circulation, were in some instances monstrous, and he had been informed that in some instances as much as 1s. was charged upon each sovereign changed. He was happy to be able to inform the House, that it had been found on an average that the loss upon the gold coin sent into the Bank of England did not exceed 1½ or 2 per cent. He was glad to say, that the Government were taking measures, and were in communication with various public boards, in order to give greater facility for the exchanging of light coin, both in London and the country.
§ The Duke of Clevelandhad heard of many cases of very serious inconvenience which had resulted from the system at present in force, and he believed that, unless some measures were taken to remedy the evil, inextricable 'confusion would result. The actual deficiency in the sovereign in many cases did not arise from any unfair practices having been resorted to, but from the weight of metal being lessened by use and wear and tear. It was extremely hard, therefore, that the public should, where such was the case, be subjected to such deductions.