Court of Policy authorises pierced dollars and plugs, Stadrook, Demerara, 9 December 1808
Present
His Excellency Lt Colonel Ross actg Lt Governor.
The Honble P. C. Ouchama. Commander of Essequibo.
The Honble F. P. van Berekel. Flscaial of Demerary.
and
The Honble Thos. Cuming. Member of the Court
Minutes of the Proceeding of the Honourable Court of Policy of the Colonies of Essquibo and Demerara and their dependant Districts at the Extraordinary Session held at the Court House in the Town of Stadrook in Demerary.
Friday the 9th December 1808
Were read approved of and signed the minutes of the Sitting held on the 5th instant
…
His Excellency next informed the Court that with a view towards diminishing the inconveniences now experienced in the Colony from the want of Sufficient Silver money, particuliarly Small change, it was his intention, conformably to the practice which had been introduced with much success in some of the West India Islands, to cause Spanish dollars to be issued under the authority of Government, having a round indented piece Cut out of their Centre, and to order by Proclamation as His Majesty's Representative, that such pieces should pass and be received in all dealings for Three Bitts, and the remaining part of the. Dollar for the full value of Twelve Bitts; that for the better protection of this plan, His Excellency proposed at the same time to call by such Proclamation on all Persons in these colonies, having Spanish Dollars in their possession to bring the same to one of the Public offices to be pointed out in the said Proclamation, when a Person duly authorized would attend to strike out the central piece of the Dollar, which was to be kept and to be issued again by Government, and the remaining part of all such Dollars to be given back to the owner; who were to receive one Bitt over and above the cut Dollar so to be returned, by which means there would be left a profit to Government of Two Bitts on each Dollar to defraythe expenses of the operation --
His Excellency at the same time exhibited to the Court the instrument which had been prepared under his directions for the purpose of Cutting out of the Dollar, the pieces intended to be brought into circulatinn as Small Silver money and also some pieces which had been so cut out of Dollars and which in point of weight were fully worth Three Bitts, the value proposed to be set upon them.
The Governor concluded his communication by requesting to know the Sense of the Court on the Subject of the plan so proposed by His Excellency, & the members, after giving it the utmost Consideration, expressed their entire approbation thereof, and a resolution was passed that the Receiver of the Colony Chest and all other public Colonial officers shall be and hereby are directed to receive in payment, the pieces cut out of Dollars and the remaining part of such Dollar at the value respectively of Three and Twelve Bitts, according to the Proclamation to be issued on that head by His Excellency the actg Lt Governor -
Resolved that an Extract from this Resolution be transmitted to the Receiver of the Colony Chest for his information and government.