Wood further proposes, (if I understand him right, for his expressions are dubious) that he will not coin above forty thousand pounds unless the exigences of trade require it:  First, I observe that this sum of forty thousand pounds is almost double to what I proved to be sufficient for the whole kingdom, although we had not one of our old half-pence left.  Again I ask, who is to be judge when the exigences of trade require it?  Without doubt he means himself, for as to us of this poor kingdom, who must be utterly ruined if his project should succeed, we were never once consulted till the matter was over, and he will judge of our exigences by his own; neither will these be ever at an end till he and his accomplices will think they have enough:  and it now appears that he will not be content with all our gold and silver, but intends to buy up our goods and manufactures with the same coin.

I shall not enter into examination of the prices for which he now proposes to sell his half-pence or what he calls his copper, by the pound; I have said enough of it in my former letter, and it hath likewise been considered by others.  It is certain that, by his own first computation, we were to pay three shillings for what was intrinsically worth but one, although it had been of the true weight and standard for which he pretended to have contracted; but there is so great a difference both in weight and badness in several of his coins that some of them have been nine in ten below the intrinsic value, and most of them six or seven.

His last proposal being of a peculiar strain and nature, deserves to be very particularly consider’d, both on account of the matter and the style.  It is as follows.

Lastly, in consideration of the direful apprehensions which prevail in Ireland, that Mr. Wood will by such coinage drain them of their gold and silver, he proposes to take their manufactures in exchange, and that no person be obliged to receive more than five-pence half-penny at one payment.

First, observe this little impudent hard-ware-man turning into ridicule the direful apprehensions of a whole kingdom, priding himself as the cause of them, and daring to prescribe what no king of England ever attempted, how far a whole nation shall be obliged to take his brass coin.  And he has reason to insult; for sure there was never an example in history of a great kingdom kept in awe for above a year in daily dread of utter destruction, not by a powerful invader at the head of twenty thousand men, not by a plague or a famine, not by a tyrannical prince (for we never had one more gracious) or a corrupt administration, but by one single, diminutive, insignificant, mechanic.