Letter concerning the melting of money in Scotland into ingots

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By a Letter from Mr Allardes dated 21th Iuly 1708, I am informed that the Privy Council of Scotland, when my Ld High Treasurers Order wa{illeg}s laid before them by the Commrs of the Treasury there did immediately make an Act for paying to the said Mr Allardes a penny per pound weight Troy for melting the money into Ingots & ordei{illeg}ned the Commrs of the Equivalent to pay the same out of the Equivalent money conform to the Article of Vnion, & that accordinly {sic} the said Commissioners have given obedience & paid Mr Allardes some few days ago for what is already melted. The old money is the peoples untill it be melted into Ingots & the Ingots be delivered by the Agents of the {illeg}people by weight & assay to the Master of the Mint to be coined, & therefore all the charges of this melting are soto bye born by the people & by consequence out of the Equivalent. For the Act of Vnion appoints that the losses wch the {illeg}people may sustein by the recoinage of their money be born out of the Equivalent in the first place

[1]

Isaac Newton.

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<text in Unknown Hand begins>Report of Sr Is. Newton & Dr David Gregory concerning a Reward of the Commissioners for melting the old money of Scotland into Ingots.