An opinion prevails, founded on information obtained through the medium of the most intelligent of these coiners and dealers, that of the counterfeit money now in circulation, not above one third part is of the species of _Flats_ or _composition money_; which has been mentioned as the most intrinsically valuable of counterfeit silver, and contains from one fourth to one third silver; the remainder being blanched copper.--The other two thirds of the counterfeit money being _cast_ or _washed_, and intrinsically worth little or nothing, the imposition upon the public is obvious. Taking the whole upon an average, the amount of the injury may be fairly calculated at within ten per cent. of a total loss upon the mass of the base silver money now in circulation; which, if a conclusion may be drawn from what passes under the review of any person who has occasion to receive silver in exchange, must considerably exceed _one million sterling_! To this we have the miserable prospect of an accession every year, until some effectual steps shall be taken to remedy the evil. Of the Copper Coinage, the quantity of counterfeits at one time in circulation might be truly said to equal three fourth parts of the whole, and nothing is more certain than that a very great proportion of the actual counterfeits passed as Mint halfpence, from their size and appearance, although they yielded the coiners a large profit. Even at present the state both of the silver and copper coinage of this kingdom (the copper pence only excepted) deserves very particular attention, for at no time can any person minutely examine either the one coin or the other, which may come into his possession, without finding a considerable proportion counterfeit. Until, therefore, a new coinage of halfpence and farthings takes place upon the excellent plan adopted by Government, with respect to the pence now partially in circulation, what must be the situation of the retail dealers, the brewers, distillers, and many other classes of industrious traders, who in the course of their business, are compelled to receive depreciated counterfeit money?[46]