to the Lords of the Treasury, complaining of the condition of the copper coinage, and pointing out that the evil results had been brought about by the system of grants to private individuals.  Notwithstanding this memorial, it was attempted to overcome the difficulty by a continuance of the old methods.  A new patent was issued to an English iron merchant, William Wood by name, who, according to Coxe, submitted proposal with many others, for the amelioration of the grievance.  Wood’s proposals, say this same authority, were accepted “as beneficial to Ireland.”  The letters patent bear the date July 12th, 1722, and were prepared in accordance with the King’s instructions to the Attorney and Solicitor General sent in a letter from Kensington on June 16th, 1722.  The letter commanded “that a bill should be prepared for his royal signature, containing and importing an indenture, whereof one part was to pass the Great Seal of Great Britain.”  This indenture, notes Monck Mason,[2] between His Majesty of the one part, “and William Wood, of Wolverhampton, in the County of Stafford, Esq.,” of the other, signifies that His Majesty

“has received information that, in his kingdom of Ireland, there was a great want of small money for making small payments, and that retailers and others did suffer by reason of such want.”

[Footnote 1:  “A Defence of the Conduct of the People of Ireland in their unanimous refusal of Mr. Wood’s Copper Money,” pp. 22-23.]

[Footnote 2:  “History of St. Patrick’s Cathedral,” note v, pp. 326-327.]

By virtue, therefore, of his prerogative royal, and in consideration of the rents, covenants, and agreements therein expressed, His Majesty granted to William Wood, his executors, assigns, etc., “full, free, sole, and absolute power, privilege, licence, and authority,” during fourteen years, from the annunciation of the Blessed Virgin, 1722, to coin halfpence and farthings of copper, to be uttered and disposed of in Ireland, and not elsewhere.  It was provided that the whole quantity coined should not exceed 360 tons of copper, whereof 100 tons only were to be coined in the first year, and 20 tons in each of the last thirteen, said farthings and halfpence to be of good, pure, and merchantable copper, and of such size and bigness, that one avoirdupois pound weight of copper should not be converted into more farthings and halfpence than would make thirty pence by tale; all the said farthings and halfpence to be of equal weight in themselves, or as near thereunto as might be, allowing a remedy not exceeding two farthings over or under in each pound.  The same “to pass and to be received as current money, by such as shall or will, voluntarily and willingly, and not otherwise, receive the same, within the said kingdom of Ireland, and not elsewhere.”  Wood also covenanted to pay to the King’s clerk or comptroller of the coinage, L200 yearly, and L100 per annum into his Majesty’s treasury.