A History of England, Period III. Constitutional MonarchyBright, J. Franck (James Franck)
History
A History of England, Period III. Constitutional Monarchy
Bright, J. Franck (James Franck)
Great Britain -- History
He was kept in honourable imprisonment till those garrisons
were restored.
[Sidenote: William's triumphant return. Oct. 10.]
[Sidenote: New Whig Parliament. Nov. 22.]
It was thus no longer as a beaten and unfortunate, though skilful
general, that William returned to England. The Triennial Bill having
come into operation, the present Parliament would have come to a natural
conclusion the following year. It had on the whole acted so much in
favour of William and the Whigs, that William, could he have prolonged
it, would probably have been willing to do so. But he wisely judged that
it would be better to call his new Parliament while still popular from
his successes, than to wait the chances of the future year. The event
proved that he was right. A brilliant triumphant progress through
England was followed by the return of a Parliament with an immense
majority favourable to the war and to the Whig interests. Four Whigs
were returned for London. Westminster followed the example of the
neighbouring city, and so great was the enthusiasm that even the great
Tory leader Seymour, whose interest in Devonshire was believed to render
his return for Exeter sure, was defeated in that town. The Parliament
thus assembled had very important work before it, and, acting in unison
with the King, his ministry, and the whole country, carried it through
to a noble conclusion.
[Sidenote: Re-establishment of the currency.]
This important work was the re-establishment of the currency. The
English coin had originally been of hammered metal, it was constantly
liable to inequality in weight, and being left with raw edges, easily
clipped. In Charles II.'s reign this defect had been partially cured by
the use of machinery, and words had been printed round the edges of the
coin; but as the bad hammered coinage was allowed to be current side by
side with the new milled coinage, the better coinage had either been
hoarded or had left the country, as invariably happens, when some part
of the coinage of the country is of less intrinsic value than the rest.
Consequently the evil became worse. Coin was more constantly clipped,
and as it wore out was more easily counterfeited. Its defects at length
became so obvious that shopkeepers refused to take it except by weight;
thus causing heavy suffering to the lower orders, who generally received
their wages by tale, and had to pay by weight, and every little
transaction became the occasion of a dispute. So far had the evil gone,
that when trials were made in different parts of the country, the
coinage had proved on an average to be little more than half its proper
weight. A re-issue of coin became absolutely necessary. The arrangements
fell into the hands of Somers and Montague, of John Locke the
philosopher, and Isaac Newton the mathematician. In devising their plan
two great questions met them. By whom should the expense be borne? How
could the inconvenience of the short supply of coin which must
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