CHAP. XI. Method of restoring the money-unit to the standard —— of Elizabeth, and the consequences of that revolution, How to fix the pound sterling at the standard of Queen —— Elizabeth, The consequences of this reformation will be to raise 588 the standard _5 per cent._ Every interest in a nation equally intitled to 589 protection, Those who suffer by the debasement of the standard, —— Ought only to benefit by the restitution, 590 And not the whole class of creditors, —— Whose claim ought to be liable to a conversion, 591 According to justice and impartiality, —— CHAP. XII. _Objections_ stated against the principles laid 592 down in this inquiry, and answers to _them_, That a pound will always be considered as a pound, 593 That the standard is not debased at present, being —— fixed to the statute, not to the coin, That the pound sterling is virtually worth 1718.7 —— grains fine silver, That these principles imply a progressive debasement of 594 the standard every new coinage, That the same argument holds for debasing the standard —— measures of weights, capacity, &c. That the wearing of the coin falls on them who possess —— it at the crying down, but does not debase the standard, That inland dealings, not the price of bullion, or —— course of exchange, regulate the standard, That public currency supports the value of the coin, —— That this scheme is the same with that of Lowndes, —— Answers to these objections, 595 That a pound will be considered at its worth by all —— debtors, and by those who buy, If the standard was affixed to the statute, people —— would be obliged to pay by weight, No body can be obliged to pay 1718.7 grains fine silver 596 for a pound sterling, That it is not the regulation of the mint, but the —— disorder of the coin which must debase the standard, That people are obliged to measure by the standard 597 weight, but are not obliged to pay by the standard pound, That the loss upon light money when called in, does not —— fall upon the possessors, That inland dealings cannot support the standard where 599 there are money-jobbers or foreign commerce, That public currency supports the authority of the 601 coin, not the value of the pound sterling,