CHAP. XXIII.

WEAR OF COIN.

r/l

nine years before, viz. in 1817, was at the rate offour shillings and six-pence farthing on each hun-dred pounds. If then it be taken as five shillingsfor ten years, it will appear that one part in fourhundred only had been lost. It must, however,be considered that the sovereigns though coinedhad not been issued till the bank restriction wasremoved in the year 1823 ; that after that periodfew or none had travelled into the country; thatnone were seen in Scotland or Ireland ; that what-ever came into the hands of the country bankerswere locked up till a safe opportunity presenteditself of returning them to London ; and that evenin London the circulation of one and two poundbank notes was greater than that of sovereigns.There seems to be a great difference in the loss ona parcel of gold coin in London between thattaken in a retail shop and that received from abanking-house. Thus by Appendix , No. 1, B.,it is seen that a given number of guineas in theyear I8O7, collected in a retail shop, was deficientone pound three shillings and fourpence per cent.,whilst those received at a banking-house were onlydeficient eighteen shillings and eleven-pence percent. As the experiment at the mint was proba-bly made from a number of sovereigns taken fromthe Bank of England , they were most likely inbetter preservation than what would have beentaken from a banking-house; as the bank at alltimes has been very strict in receiving no gold coin