Ireland under the Tudors, with a Succinct Account of the Earlier History. Vol. 2 (of 3)Bagwell, Richard
History
Ireland under the Tudors, with a Succinct Account of the Earlier History. Vol. 2 (of 3)
Bagwell, Richard
Ireland -- History -- 16th century
These were the days when everyone expected Elizabeth to marry. Cecil went
to Scotland, where the general wish was that the half-witted Arran
should unite the two kingdoms. On his return he found that his policy had
been thwarted by 'back counsels;' and he talked of resigning his place.
Sussex wrote in horror at the prospect, for he thought the Queen would be
but slenderly provided with counsel elsewhere, and under certain
circumstances, such perhaps as a Dudley ministry, he himself would not
serve ten months in Ireland--no, not for 10,000_l._ The dark tragedy on
the staircase at Cumnor left Dudley free, and for a moment most men
supposed that the Queen's partiality would end in marriage. Sussex did
not take so unfavourable a view of the match as the secretary. According
to his view the great national requirement was an heir to the Crown, and
there would be a better chance of one if Elizabeth married the object of
her affections. Sussex declared himself ready to serve, honour, and obey
any one to whom it might please God to direct the Queen's choice. Had
this advice been given to Elizabeth the writer might be suspected of
flattery, and of seeking friends of the mammon of unrighteousness; but,
spoken to such unwilling ears as Cecil's, it must be considered highly
honourable.[16]
[Sidenote: Reform of the coinage.]
In Ireland as in England, Elizabeth gained great and deserved credit by
reforming the coinage. From the time of John till that of Edward IV.
there had been no difference between the two standards; but in the latter
reign that of Ireland suffered a depreciation of twenty-five per cent. An
Irish shilling was henceforth worth no more than ninepence in England.
There must have been a loss to the public and a gain to the Exchequer at
first, but bullion finds its own level like water, and there were no
further fluctuations. Having become a settled and understood thing, the
difference caused little trouble. But when Henry VIII. began to tamper
with the currency great loss and inconvenience followed. The quantity of
silver--the common drudge 'twixt man and man--in any given piece of money
could scarcely be guessed at by the ordinary citizen. Barrels full of
counterfeit coin were imported, and added much to the confusion.
Tradesmen raised prices to save themselves. All good coin was exported
to buy foreign wares, and the course was continually downwards, as it
must inevitably be under similar circumstances. Inconvertible notes
proved highly inconvenient in America and in Italy; but they were nothing
to the metallic counters of the Tudors, which depended less upon credit
than upon uncertain intrinsic values. Communications were difficult,
there were no newspapers, and money dealers flourished. At every exchange
a burden was imposed on industry. Those who have been in Turkish towns,
and have seen a sovereign waste as it passes from one currency to
another, can form an idea of what Dublin and Drogheda suffered through
Public-domain text, read in full here on John Shaqi.
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